I made some phone calls and here what I've found.
Vector will not do a hostile takeover ever again. It appears that after Aladdin fiasco, no one will talk to them.
It appears Vector is buying a stake, not the full company.
Now for the good news, Click will get sold in the next two years the latest.
Take my info with a grain of salt,
You are assuming that Vector is the buyer. Maybe it's copy cats trying to join the bandwagon.
In that case, there won't be any filing what so ever.
Everyone is putting all their eggs on Vector buying the company.
If they don't file increased stake, people may get very nervous and dump shares.
We shall see what their plans are,
At $10, the market cap is $350M if you take into account all the stock options issued under $10.
Vector wants to make money on the transaction, buying the company for $500M is not in their wheelhouse.
I'm a trader. I love to take profits and most of the time I do it too early.
For full disclosure, I exercised my calls yesterday and sold the shares today.
I'm still short the August $7.5 puts.
Good luck to all,
Vector bought the majority of its holding at the very low $7s.
The highest price they paid was $8.38.
I don't think they will offer anything over $11, in fact I don't think we will see an offer above $10.
Click had a nice run with wishful thinkers.
It seems everyone here is convinced a deal $12+ is in the works.
How come no one is buying cheap options for a huge return?
You can buy August options for 20c premium.
Hit the buy button already,
I'm very familiar with Vector Capital and was an Aladdin holder when they were bought out.
There is no way Vector will offer $13 per share. They are value investors. If they do, everyone including Soros will be happy to sell.
I agree with most of your points, I posted similar post when Vector filed couple of weeks ago.
I disagree on your price. If vector wanted to offer $13 to take it private, they could have tendered at $13 and be done with.
Vector is a value investor, they won't offer 50% premium to take Click private.
If they did, everyone would sell including Moshe.
If Vector decides to bail out, Click will visit $7 in no time.
I still own 123 of the same calls. It seems I was the sole owner of the open interest.
I was traveling yesterday thus missed selling yesterday,
I mostly trade options. With other stocks, I'm the only one trading too and there is a hefty premium.
I don't understand why would anyone buy CKSW shares vs. options. There is no premium on the buy too. You have the same upside with limited down side.
I sold those... I bought them couple of weeks ago,
It's amazing you can't get any premium on those options five weeks ahead of expiration,
The SI inched a bit and now stands at 690K 12 month high.
It must be very frustrating for the shorts to see the market tumble and Click to hold on and gain nicely.
I'm sure the short thesis was Click's business. They did not anticipate the Vector curve ball.
I must admit, I did not anticipate it either and was was short 10K and covered at low 8s based on a recommendation from Flyer...
It will get interesting going forward,
The report was not wrong, it was worse than that. It was a fraud.
The company never hired Jefferies and had no plan to sell for $300M, or $9 per share.
On the other hand, the report may triggered some potential buyers that want to buy the company on the cheap.
Vector buys companies, not a passive stake. They may put an offer on the table for all shareholders to take it or leave it.
We shall see,