As reilly pointed out in the thread: "What this offering is" is that marsh has "no problem with the 8000 bashing posts here that complete fabrications...". Something that I have said about marsh more than once as well.
For those few of you that DON'T have marsh on "ignore", please do so so that a lot of needless verbiage is eliminated.
I agree with everything navy said about Murphy. That's why he and his colleagues will take ONVO to new heights in 2015 and beyond.
That said, don't go all in on any company. Spread your purchases out so you can take advantage of pull backup like we experienced Wednesday or take advantage of other opportunities elsewhere. As navy would say, "Welcome aboard!"
Murphy and crew have set this company up beautifully. The controlled equity offering with Cantor is just the latest smart move by them.
2015 is the start of a great ride with ONVO. GL
From Cantor's web site:
Controlled Equity Offering (CEO) – The Cantor Controlled Equity Offering℠
(CEO℠) is an equity shelf takedown program that allows public companies to sell shares from time to time into the open market at prevailing market prices. The Cantor CEO was one of the first at-the-market programs available to public companies and Cantor remains the leader in the space having implemented approximately 100 ATM programs.
The CEO enables companies to raise incremental capital at the most opportune times to take advantage of positive stock momentum and increased demand. Not only does the program provide both balance sheet and capital markets flexibility by providing continued access to the equity capital markets, it allows public companies to better match sources and uses of funds for the foreseeable future.
Our senior-level dedicated team has been active in ATM transactions for more than a decade and is skilled in accessing all liquidity pools and executing both anonymously and efficiently on behalf of corporate issuers.
I think ONVO did this controlled equity offering to better match resources with needs. Sort of what you were alluding to, fillip, I guess with your "tailor made" funding statement.
If Keith and company don't have enough cash on hand AND cash flow from ExVive sales for whatever purpose, then he can call on Cantor to release x-number of additional shares. If ExVive sales are strong and plenty of money is rolling in, they wouldn't need to sell additional shares.
Reilly made this clear last night when he was doing "battle" with the "oh, no! horrible dilution" folks. lol
We'll be fine. It is the best of both financial "worlds". Here's to a strong ONVO presence in 2015!
I hear that about reducing taxes. Oh well! Win some, lose some.
As reilly said, have some Dom tonight to celebrate. Hell! Let's all have some to a successful year in money, health and/or family! And may in continue in 2015!
That makes one of us, juggsy. I'm down over 6%, but realize it's guys like you locking in nice profits. Like I hope to do in 2015. GL
Thanks guys for your input. Years ago, I used to track that info, but I guess I've gotten lazy in my old age (63... lol).
jj: There is no negatives. It represents a buying opportunity for those that want to add more shares. This is the last day of the year. I expect a little cleaning up is going on too. In January, I expect ONVO to attract steady buying interest from big players.
Behaving as I expected. Buying opportunity.
ONVO won't be around 10 years from now. It will be bought out before then. GLTU
3% of $7.66 (today's closing price) = $7.43 if Cantor sells all 33M tomorrow (which isn't going to happen anyway).
I can live with that. Any other concerns? I didn't think so. Class dismissed.
Seriously, reilly had the right idea take on the matter. ONVO is looking to future funding needs if-and-when they need it.
The shorts will try to drive the pps down tomorrow, but they'll fail because ONVO is on the move. Big money intstitutions/funds/etc have ONVO on their 2015 buy list. So, if the price dips tomorrow (last day of the year/quarter), and you were thinking about adding more, then this would be your chance to do it, imo.
love and jj: As I said in an earlier post, I was finished with biotechs/pharmas until recently when I bumped into all of you. Still quite skittish due to my past experience, but I realize, if one makes the right choices or the right connections (as this board seems to be populated with sane people who do DD the way I try to do it), one can come out a net winner over time. GL!