Company who acquires insm offers $$$ for unknown amount of shares and the shorts are hurting big time. I don't believe it said how many shares were being offered..... just the dollar amount they were going to raise. Usually they say how many shares they are going to issue and how many that price - all this says is $80 million - doesn't say how many shares be issued
How does that work? We dilute by 20% and then get bought out for less than (per share) than what we had? Yes, they would get $80M more cash in the coffers so what would that make the buyout price for $2B-$3B??? Pipe Jaffray JUST reiterated its $51 PT last week, doubt Schimmer would change that. MAYbe that is what the PPS for the buyout will be which would make it less than $2B now. Just plain sucks guys!!