original 25mil $5.48/share purchase agreement filed in August 2012
"the average purchase price of all common stock issued by us to Terrapin equals or exceeds $5.48 per share (subject to adjustment), which represents the consolidated closing bid price per share of our common stock... on the effective date of the purchase agreement" So is Terrapin paying more than $4.58 for these recently purchased shares?
Based on simple math I would say No... I was the guy who sold his 8900 shares AH .... I am still a long term believer in this stock although yesterday was a real head spinner for me. Net of AR and AP they had $60M in cash so for the life of me I struggle to understand why they pull the ATM at the stocks lowest point of the year. I actually wonder if as part of their agreement they had to commit to purchase shares over a defined timetable and their hands were forced. If so, not impressed that they think $4.58 is as good as it gets in the short term. Who knows, maybe it is a set up for better things to come. Either way I decided to take a breather and wait out both the tax selling season & fiscal cliff noise. Unless this is "THE RUN" I will buy back in the New Year or sooner if the PPS drops to a point I have to buy.