From today's SEC filing, there are 7 insiders buying CYTX either from the Right offering or from the opening market in the last 2 days. The entry prices from the open market were between $2.06 and $2.14 with average price of $2.10 (over 27,000 shares).
Hmm. I believe any good news should bring this stock above $3 in the next few weeks.
If you do not get it at $2.55/right, you should buy it from the opening market under $2.30 this week. The stock price was pressured from this right offering in the last few weeks. I expect it to be higher when the warrant starts trading on Wednesday.
I am very disappointed about this right offering. I owned this stock (including May 17-20). I expect to participate the right offering. But I did not get any info from my brokerage firm, Charles Schwab, even I called. I was told there were no info from the transfer agent about this right offering even they got that news release. So, I email to syndicatemaximgrp.com and a lady, Eileen Citarrella, replied me and asked me about me phone number and then no one called me. Then I called the phone number 855-793-5068 and a lady answered the phone call and she just read from the news release. She doesn't know too much about how the right offering works.
My question is as follows:
According to the filing, the unit was sold at $4. But my friend told me the unit will be priced right after the subscription period is ended. It should be closed to the current stock price. Is it true?
Right now, if the right is $4/unit, I don't think it is attractive to subscript those units because the stock price is under $3.