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Omeros Corporation Message Board

  • rrtzrealmd rrtzrealmd Jan 2, 2013 5:53 PM Flag

    I'm surprised there hasn't been...

    ...more commentary on the 8k released a few weeks back wherein OMER announced their intention to sell 60 MILLION dollars worth of stock.

    Did anyone notice that the 8k DIDN'T specify at what price they would be selling.

    In other words they could sell 10 MILLION shares tomorrow for $6 a share.

    Or 100 MILLION shares for 60 CENTS a share.

    Or even a BILLION shares for SIX cents a share.

    Goodness knows that with only about 20-25 million in cash on hand and burning 15 million a quarter, OMER's going to need some more dough in the not to distant future.

    Certainly, no one wants management to have to worry about losing their fat salaries, benefits, bonuses, and perks -- not to mention the CEO's malpractice premiums.

    But still, 60 MILLION dollars worth of stock at who knows what price hanging over the stock could be a serious damper to potential investors' enthusiasm, don't you agree?

    Sentiment: Strong Sell

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    • That you, Matt Schilling??? OMER announced its ability (NOT its intention) to sell $60 million worth of stock "at the market", not the crazy prices you hypothesized.

      • 1 Reply to dooper55
      • ...uhhhh, excuse me but OMER "announced its ability" to sell 60 MILLION dollars worth of stock but DIDN'T announce ANY price range "crazy" or otherwise...

        ...they didn't even specify a threshold below which they WOULDN'T sell...

        ...which translates into potential INFINITE shareholder dilution should management desire to raise money -- and being a biotech, you can guarantee they will want to raise money over and over and over and over again... maybe you want to hold onto a stock where the management can sell ANY amount of stock at ANY price day in and day out without being required to announce beforehand or even file a report about the sales...

        ...if so, then you're...uhhhhh...well, you're just stupid...sorry...couldn't think of anything more polite that was adequate...

        ...because, just think about it, suppose I gave YOU the ability to sell 60 MILLION dollars worth of stock at ANY price and at ANY time with NO RESTRICTIONS, and YOU were holding onto a product that NOBODY wanted, and YOUR bank account was getting thin, would YOU really worry at what price you sold the stock?...

        Sentiment: Strong Sell

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