IPCI was VERY STUPID to allow Roth Capital to do a 5.3 million share ATM !!!!!
IPCI is trading now under a very very BIG negative cloud with Roth Capital now shooting against us in trying
to move a HUGE block of stock with a At The Market offering for 5.3 million shares.
Every time the stock tries to gain momentum and move upward, there is Roth Capital ready to pull the trigger on the millions of shares that they are trying to move.
The CEO made a H U G E mistake here in trying to raise cash this way.
He should of just taken the 10-20% hit and moved the shares ALL AT ONCE in a secondary and gotten the capital raise out of the way ALL AT ONCE...instead of placing this huge roadblock in the way while it takes Roth Capital literally MONTHS AND MONTHS to move this amount of shares, as they keep knocking the share price down on every little run up.
Call the investors relations person at IPCI and voice your concerns over the HORRIBLY bad move to raise capital this way at the shareholders expense.......
We are never going to get past this huge overhead and we attract short sellers who can shoot against our share price KNOWING full well that Roth Capital can come in and help them when Roth starts hitting the SELL button in exercising the ATM .
How stupid of the company and a major mistake made by top management here !!!!!!!!!!!
Man the only one stupid here is you. You better reread the offering. IPCI decides when to sell and the CFO told us that they will wait for better PPS. IPCI was then trading at 3.9. IPCI will sell shares on the next catalyst and it won't be under 5 dollar imo. gltu you'll need it
I would just add that 5.3 million is the maximum number of shares that can be sold to raise a maximum of $16.8 million dollars. So....if they sell for $5 a share they would only sell 3.360 million shares, not the maximum of 5.3 million they have available. Less shares means less dilution which in the long run is beneficial to shareholders.