Mon, Oct 20, 2014, 11:28 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Insmed Incorporated Message Board

  • fudfighter4 fudfighter4 Apr 5, 2013 3:39 PM Flag

    This time the VCs are here for the endgame

    Consequent upon the merger with Transave on December 1, 2010 the Venture Capital investors who were Transave stockholders gained ownership of 46.7% of the new company.

    Until March 2011 around 80% of their holdings were in the form of Preferred Shares. After conversion their combined holding was 11,768,471 shares -

    2,189,994 - Quaker BioVentures
    1,915,122 - TVM Life Science Ventures
    1,888,165 - Prospect Venture Partners
    1,881,752 - FMR (Beacon Bioventures / Beacon Bioventures Principals)

    Unknown - Bessemer Venture Partners
    Unknown - Forbion Capital Partners
    Unknown - Easton Hunt Capital Partners

    (Holdings of less than 1,356,637 were not reported)

    The VCs were restricted under the merger agreement from selling shares before May 30, 2011, at which point they were allowed to sell a third. At the end of November 2011 an additional third became unrestricted, with the final third becoming unrestricted on May 30, 2012.

    Our armchair experts predicted that the VCs would unload their unrestricted shares just as soon as they could sell at a clear profit, moving the capital into new ventures with explosive growth prospects. They subsequently proclaimed that the VCs had taken advantage of the demand from the Russell 3000 tracker funds in mid-2011 by supplying shares for between $12 and $13.50.

    However, our armchair experts are amateurs - whereas the VC fund managers are vastly-experienced professionals, who also know the inside story.

    December 31, 2012 -

    2,927,094 - Quaker BioVentures
    1,915,122 - TVM Life Science Ventures
    1,888,165 - Prospect Venture Partners
    1,881,752 - FMR (Beacon Bioventures / Beacon Bioventures Principals)

    2,818,594 - FMR (Fidelity Management and Research / Pyramis Global Advisors Trust)
    2,433,319 - RA Capital Management
    1,483,870 - Ayer Capital Management

    1,175,920 - Bessemer Venture Partners
    Unknown - Forbion Capital Partners
    Unknown - Easton Hunt Capital Partners

    (Insmed is still listed in the portfolios of those last two investors)

 
INSM
13.52+0.23(+1.73%)Oct 20 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.