Just the scared willy-nillies getting out after the announcement, small taters. Maybe Kumie is pist and taking it out on the stock. I doubt it. IMO the 8k was about protecting the company and preferred shareholder JMI (Jimmy) from being muscled out by bois like Kumie. They are letting him hold up to 25% w/o triggering the pill, so he may be buying more if he doesn't already have it. So chill- you don't hear me whining after not selling yesterday thanks to the Mayor's personal endorsement. As for the puts, we'll have to wait and see,,,,
Tell me if this is correct: According to the filing, if Okumus is "forced" to buy stock as a result of the puts, he will own greater than 20% of the company and will be deemed an "acquirer", hence the poison pill will go into effect and, assuming a sufficient number of rights are exercised by the remaining stockholders, Okumus will no longer be an acquirer because his holdings will have been diluted. However, in the unlikely (but highly desirable) event the stock goes $12.50 or above by expiration, Okumus will not be forced to buy stock as a result of the puts and hence will not have sufficient shares to become an acquirer. No poison pill will go into effect. Did I get that right? If not, feel free to correct me.