Cldx is being diluted by 16% if offering is priced at $7.42 closing price. Current outstanding shares of 62 million plus about 10 million shares sold to raise the $75,000,000. Sold my holdings in after hours at $7.16, back in within the week hopefully at a lower price.
What is the reason for this type of transaction It seems at some point they will issue or sell the shares or use some for employee options. Thanks in advance for any response. Just can't understand what the purpose of this is except to dilute current shareholders at some point
IMGN seeking approval to increase authorized shares from 100,000,000 to 150,000,000. Set for shareholder vote Nov. 13Th 2012. If approved would this be considered a dilution of 1/3 the value of the stock.