February 27, 2014 9:00 AM EST Send to a Friend
BLUE BELL, Pa., Feb. 27, 2014 /PRNewswire/ -- Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) ("Inovio" or the "Company"), today announced the pricing of an underwritten public offering of 18,966,000 shares of common stock for a public offering price of $2.90 per share. The gross proceeds to Inovio from this offering are expected to be approximately $55 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 2,844,900 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about March 4, 2014, subject to customary closing conditions.
The Company intends to use the net proceeds received from the sale of the common stock for general corporate purposes, including clinical trial expenses, research and development expenses, general and administrative expenses, manufacturing expenses and potential acquisitions of companies and technologies that complement its business.
Why are you fools buying at these levels? 30% dilution, this will fall at 30%. Get real you fools & wait for $2.60 or less
Best Buy Co., Inc. (NYSE: BBY) reported Q4 EPS of $1.24, $0.23 better than the analyst estimate of $1.01. Revenue for the quarter came in at $14.47 billion versus the consensus estimate of $14.66 billion.
Comps fell 1.2%.
Renew Blue Cost Reduction Initiatives Update:
Since the company’s Q3 FY14 earnings release, Renew Blue annualized cost reductions have increased $260 million, bringing the total Renew Blue annualized cost reductions to $765 million ($570 million in SG&A and $195 million in cost of goods sold). The additional $260 million in cost reductions ($230 million in SG&A and $30 million in cost of goods sold) is primarily driven by (1) the optimization of the field and store operating models in the U.S. and Canada; (2) structural changes to certain compensation and benefits programs; and (3) ongoing optimization of returns, replacements and damages.
The company has already exceeded the $725 million North American cost reduction opportunity it presented at its Investor Day in November 2012. Today the company is increasing the target to $1 billion. These additional cost reductions are expected to come primarily from the optimization of (1) returns, replacements and damages and (2) logistics and supply chain
Div by 3 you get 41 million shares divi by $2.50 you get 50 million shares
You looking at 40 to 60 million shares dilution on top of the already 190 million shares. At least 30% dilution.
If that was true, then why dilute now at $3.50 when they could dilute at $20 after Phase II was successful?