It was in the green most of the morning and all afternoon, then in the last half hour of trading, it dropped 5% on high relative volume. Somebody still has a lot more shares they want to exit, seemingly not because of the fundamentals of the Company. What gives?
Let's look at a recent example. Masco spun off TopBuild (plus cash in lieu of fractional shares). So the Options Clearing Corp MODIFIED the option delivery: If you held one option contract for 100 shares of Masco, then AFTER the spin off, your option called for delivery of 100 shares of post-spin off Masco, :PLUS 11 shares of the spun off TopBuild, PLUS @2.95 for cash in lieu of .1111 share of spun off TopBuild. The same logic would apply to the warrants. I invite anyone to confirm with BTX: the Warrants WILL be modified to have an interest in the post-spin-off BTX PLUS Onco Cyte - you don't get screwed.
I didn't tender, because I figured weak hands would exit with tender and the diminution in float would bring strength to the remaining shares . (That is what happened in the recent NTP tender.) But nooooo. Why not?
Why are people on the ANV Board still messaging about the wrongs done against the Common shareholders and the prospect of an Examiner? When on 28 August the Judge approved the Disclosure Statement (which contains the "grant" of warrants to the impaired Common Shareholders), it seems to me that any hope of changing that outcome is gone.
Why are people still messaging about the wrongs done against the Common shareholders and the prospect of an examiner? When on 29 August the Judge approved the Disclosure Statement (which contains the "grant" of warrants to the impaired Common Shareholders), it seems to me that any hope of changing that outcome is gone.
So it appears that the Reorganization Plan which will be voted on (not binding on the Court) provides "New Warrants" to us Common Shareholders. What is the chance that (either by reason of a "No" vote by us, or arising from Tuttle's motions and objections, or otherwise) we will get MORE than just New Warrants?