I would think those who exercised rights for a trade would have already placed a short sale hedge. Institutional buyers who wanted to beef up their positions or initiate new ones had a great opportunity. Shares are without question under accumulation...six bucks and then the company will have to start delivering.
I sold 2000 shares late yesterday and will hopefully sell the remaining 3000 shares on a positive coverage rally. I was anxious also and took some off the table.
research will be published. TWTR ipo was a week ahead and notes are out. I would think commentary and price targets would be favorable since original range was 9.50 -11.50. could be a significant catalyst
spot secondary to raise 20+ million by a company facing a repayment in Feb '14 and in a deep need for cash. they desperately need to become cash flow positive to service the crushing debt. Unfortunately the secondary is just a stop gap...union give backs are the key followed by further capital raising. Staying away for now.
has no response except that they will keep pushing along my questions. Tried contacting the CHEGG corporate office with no success. Sent emails to IR and tried to get an operator at corporate without any luck. What a show...average down or puke? When would we see analyst coverage? I would think a price target above the pricing would be in order.
they are without question still interested. The transition at both Nokia and Alcatel will lead to a transaction eventually. Better for current holders to wait and build for the higher premium late nest year. Wind to our backs!
pre-ipo but have purchased shares at a discount after the offering. Good potential but the lift from the expected range spooked me. As research is published the shares should pop.
Place ALU and it's leading technology, small cell and SDN software in the limelight. If the company had waited until '14 to do the offering less dilution and more capital could have been achieved. More confident that ALU can gain durable traction.
the shares would be trading if the rights offering had waited to Q1 2014? Out side a of a quick dip and pause the shares have shrugged off the pending offering. Will there be a change of course next week once the offering begins or will demand swamp the arbs?
I fear the story will erode and we will drift to the #.50 break out level. Not a bear just want a more defensive entry point. A buyback commitment would help.
you are spot on. The rights should trade at about 20% of the spread...5 for 1. I won 60,000 shares of ALU(ADR form) and thoughts the rights would be worth about $11500. 60,000 rights would allow you to buy about 12,000 ordinary shares. What discount will be demanded or where the common shares will be trading during that time period is the unknown. I can only hope the trustee works for us and not the hedge funds who will take a pound of flesh from the market made on Euronext paris.
absolutely right. The price of the shares purchased from the company and allowed by the right is fixed at 2.20 euro. The value of that right to a third party will vary by the market value of the underlying ordinary/adr shares. Think of it like a short term option except you you are bying the shares from the company.
I am afraid will be mired in restructuring and cash burn. Currently without a position and waiting for lower prices to justify the wait for better times. I would think some effort on a pull back to use some of their potential cash hoard to repurchase shares would be a stabilizer.
Agreed, sold 150 of the April '14 calls the last two days at 2.40,2.60 and all my common 5.25 and higher. The earnings from STRA and BPI scared me. My math shows cash after closing to max at $360 million , 81 current and 277 on closing, adding to about $5/share. $3.50 looks like a starting point. Will wait to hear he call. Good luck.