With this type of drop coming on such strong volume without any major news something must be happening here, I have a feeling its some type of dilution and of course we will be the last to know.
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.
Cantor is the the underwriter for the recent offering by potential competitor Sgyp. They have a vested interest in promoting Sgyp over Irwd. Always nice to see unbiased research.
Just wondering how this might affect all the buyout talks.
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.