NEW YORK (MarketWatch) -- Transgenomic Inc. (TBIO) late Wednesday filed to sell 25 million shares. Based on its closing price of 96 cents a share on Tuesday, the offering will raise about $24 million. WOW!!
$15 m was recently announced raised, TBIO will only get the warrent cash... if they convert. Warrent holders will only do that at $1.20+ for the latest financing!
The shareholder base here is very messy... and will be for a long time. But these temp.holders have a lot to do with the stock price. Good news is that TBIO went up, stocks often go down with such reminders!