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BIOLASE, Inc. Message Board

  • pkewl pkewl May 7, 2004 5:25 PM Flag

    Insider Buying

    Somebody write Pignatelli, Jones, Rood, Bateman, Grant etal and alert them to the situation. Pignatelli was a buyer in August at $11.86 per share. Another buy here would be nice, don't you think?

    The stock being this low without insiders jumping all over it is odd, IMHO. They agreed not to sell, but there was no restriction on buying, I checked:

    From the S-3, ammendment 8, dated 2/24/04:

    "Holders of 426,432 shares of our common stock will be subject to volume limitations under Rule 144 because they are affiliates. In addition, our directors and certain of our officers who collectively hold 426,432 shares of common stock and options to acquire 2,599,085 additional shares of common stock are subject to lock-up agreements under which they have agreed not to, directly or indirectly, sell, hedge or otherwise dispose of any shares of common stock, options to acquire shares of common stock or securities exchangeable for or convertible into shares of common stock or shares issuable upon exercise of options, for a period of 120 days after the date of this prospectus without the prior written consent of Needham & Company, Inc."

    2/24 to 3/24 = 28 days.
    3/24 to 4/24 = 31 days.
    4/24 to 5/25 = 31 days.

    The period is over 5/25/04 by my count.

    Have a happy!

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1.16-0.04(-3.33%)May 27 4:00 PMEDT