Yes, Greenhill has a reputation as an honest broker. No one in big Pharma. trusts Al Mann at all !
the conversion is likely to be a net positive for the stock (less debt) and only represents 14,700,000 shares or about a 3.80% dilution and is unlikely to effect the price bu much more than that. Worry about something important-- Example: . no partner.
Insiders have waited a very long time for a significant payoff, and for the most part are not selling the greatest part of their holdings. There are plenty of other things to worry about and insider selling seems well down the list. But if your really worried, then lighten up or consider selling stock and buying some call options (Nov. of 14 maybe) . You can stay in the game and perhaps limit your risk.
Well we will have a quite good idea of results by late Sept. It is also quite possible we might both be correct. Me earlier and you later after an unpleasant amount of angst. good luck.
WHAT YOU SEE IF YOUR SHORT : 1) a wrecked balance sheet. 2) massive dilution so far and probably more to come. 3) current fully diluted shares about 450 million . 4) no partner. 5) a calculated value to a potential buyer of no higher than $8.00. Remember B.P. is risk averse. 6) A 15- 30 percent chance MNKD will attempt to "go it alone". If so, see you at $4.50. 7) The Al Mann" veracity discount". : example: $10 billion insulin supply (at retail) is more likely to be $ 4 to 6 billions at best. 8) FDA approval does not equal success . Witness
ALTH, DNDN, VIVS, ARNA. and a good many others. 9) numerous well financed competitors. 10) The improvement in oral medications which are even more convenient .
YOU ASKED .... this is a partial answer.
Congratulations on your profit ! Persistence has paid off. Depending on what percentage of your wealth (and your possible current or future needs) MNKD represents. You might consider lightening up by a quarter a third or a half. If you sell earliest shares and your some of your lower priced shares you can probably net out the sale at near zero taxable profit. A bit of safety at this juncture might not be a bad thing and then you can work with " house" money. Anyway GOOD luck.
don't worry you likely have considerably more than Matty. I suspect he has a problem with decimal places . 500 or 50,000 minor error.