S-3 is out.
"An indeterminate number of or aggregate principal amount of the securities is being registered as may at various times be issued at indeterminate prices, with an aggregate public offering price not to exceed $50,000,000." The proposed maximum initial offering price per unit will be determined, from time to time, by the registrant in connection with the issuance by the registrant of the securities registered under this registration statement.
So much for not diluting equity.
A poster on the POET Technologies Discussion Forum opines, "Anadigics will supply prototypes estimated in 2016Q2, by which time there will have been three quarters of costs at roughly 3x$2.8M = $8.4M plus the costs for these prototypes." I have no idea where he gets his figures.
It appears to be a very active discussion board. Also some speculation about POET acquiring ANAD if their prototypes are successfully received, but I wouldn't give that much credence.
"ANADIGICS, Inc. (NASDAQ:ANAD) has received a top Growth Style score from Zack’s Research. The growth score is based on company financials as well as the company’s prospects for future growth. The score is a result of analysis of various aspects of the Balance Sheet, Cash Flow Statement and Income Statement. Stocks that are given a high growth score tend to have the characteristics resulting in market outperformance."
The problem with being out of the market (except for ANAD, of course) is that you never know when to get back in, and days like today don't make it any easier. Nevertheless, I stayed out. This just doesn't feel right. There's more carnage to come--perhaps much more, but I think tiny ANAD will survive and may even rise like a Phoenix from the ashes. At worst, it will be acquired, so selling at this level is just plain nuts. If you couldn't afford the risk, you shouldn't have been in the stock in the first place.
Remember Quinn Bolton's question at the earnings conference? From Seeking Alpha:
"...are you looking or could the potential range of financing include say strategic investments from one of your VCSEL partners or greater NRE contracts or prepayments, I mean, does it necessarily have to be dilutive equity..."
Bingo. ANAD will survive.
POET Technologies Inc. has entered into a agreement with ANAD for VCSEL process transfer and manufacturing.
"POET Technologies intends to start transferring its proprietary technology to ANADIGICS' manufacturing operations in Warren, N.J. in the fourth quarter of 2015 and anticipates demonstrating integrated VCSEL prototypes in second quarter."
Nice to see the SVP for Infrastructure Products have to forfeit 6,666 shares of restricted stock that did not vest because performance goals were not met. Will Ron and Terry do the same?
Looks like we may still drift higher, independent of the general market trend. That 697,000 share trade for $0.39 that crossed after-hours on 7 August seems to be setting the near-term target.