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PharmAthene, Inc. Message Board

  • pieclam pieclam Mar 26, 2013 8:41 AM Flag

    PIP Diluting now

    Read the recent 8K

    I guess they aren't so confident in the outcome of the case????

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    • They aren't diluting (yet). They merely set up the shelf, so they are ready to raise. My guess is that (like most of us here) they are confident of a win, and the resultant share bump. But, knowing it will take a while to get any money from SIGA, they will do a raise at the top of that bump, when it's the most advantageous. Nothing out of the ordinary, this is how it happens every day.

      Proof of this is the price action so far this morning. Virtually no effect on the share price. People need to learn about these things, and stop being so ignorant of how these things work.

      • 3 Replies to zacklabster
      • Zack, you seem confident of the outcome of the case. What's your take on Judge Farnan's appraisal -- assuming you heard it.

      • It's not cahs flow concerns. Once PIP's win is confirmed they will buy SIGA at 1 PIP for 2 SIGA and completely control ST 246. After this it's a $15 stock.

        Sentiment: Strong Buy

      • Zack, I'll honestly say I don't know what the guy at cantor is doing right at this moment. The shelf was set up on July 7th 2011 with a not to exceed amount of $100,000,000, so they have been ready for sometime now. With last night's authorization, Cantor can sell whenever they want.
        If I was PIP and thought that I had a good chance of winning the case, I would still raise some cash now. It is PIP's fiduciary responsibility to it's shareholders to consider all potential outcomes and they understand that there is the possibility of not winning the case and need to plan for that scenario.

        Jimbo, if PIP wins I think they will still issue some portion of the balance of the $15M as they are now realizing that Siga will not be giving them a dime until the contract is fulfilled...what was this date 2015?

    • Read the recent BK...LOLOLOL!!!

      Sentiment: Strong Sell

    • "On March 25, 2013, PharmAthene, Inc. (the "Company") entered into a Controlled Equity OfferingSM Sales Agreement (the "Agreement") with Cantor Fitzgerald & Co., as sales agent ("Cantor"), pursuant to which the Company may offer and sell, from time to time, through Cantor shares of common stock, par value $0.0001 per share (the "Common Stock"), of the Company having an aggregate offering price of up to $15.0 million (the "Shares"). The Company intends to use the net proceeds from the offering, if any, for general corporate purposes, which may include working capital, research and development expenses, general and administrative expenses, and capital expenditures."

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