The $20 scenario is unlikely but here goes:
Board and management marches onto GW bridge. Those responsible for offering are invited to resign or jump. The offering is cancelled. Those remaining are invited to put their own money into a more modest offering priced at $1.50 per share/no warrants or resign. Those remaining are invited to arrange partnership with med device maker or big pharma - can't do it? then resign.
Whats left are management and board that's committed, has skin in game, values shareholders, and has the business and social skills to make deals.
While Intracoastal filing indicates at least part of it is done, it is interesting that warrants are not trading.
Management and BoD - consider the legal (both civil and criminal) consequences of violating fiduciary responsibily, your utter disregard for the shareholders and withdraw the offering.
roth owes them coverage and will most likely start with target 10x above current price which may cause short term pop (maybe double but not more) luring in the lemmings as those familiar with breach of fiduciary responsibily sell into strength.
Management has not bought a share. The only meaningful purchases were by board members Taglieti and Phillips. Stolls purchase is token.
they are tight with news especially since they may face charges once news of offering/blanking becomes known. the intracoastal filing indicates offering was at least partially subscribed. curously no insider filings related to offering - they know what they did to shareholders and the consequences thereof.
too alarmist imo. the idea of overnight zero is a myth. companies are usually given time and then extensions re delisting. plus there will be news for pops to avoid delisting, R/S also possible. Even ultimate delisting means pink sheets where many stocks still trade. This is not going private as BoD doesnt have the cash nor the conviction. Take credit for calling the bottom.
source of info? sec filing show he bought 200k shares in open market.
imo. do your own DD. ICN is working with SEC to obtain their approval and when its right, they will send printed material to shareholders and brokers. price will be the same. deadline will most likely be extended. this is one time offer dependent upon getting more than 50%. there will most likely not be a subsequent offering to holdouts. those who do not tender will be part of private company assuming 50% is tendered.. individual holdings in private company will most likey be illiquid.
Normally I would receive notification from broker who would have instructions. This is not the case this time. I had to contact brokers. One account is proceeding. Other accounts with larger well known national broker are awaitng their due diligence - very surprising. Neither broker received instructions from ICN
No PR as usual. But Intracoastal capital filing implies they received shares and warrants consistent with the filing.
DCTH board and management are blanking the shareholders, abrogating fiduciary responsiblity to shareholders and opening themselves to criminal and civil penalties. Unit (which includes A and B warrants) is priced at 75 cents making inherent value of stock lower. Underwriter and DCTH should be aware of the games that WS plays with warrants, selling the stock to reduce basis of warrant - the net result is further downward pressure on stock. The July 20th release was clearly a pump that investors saw through. DCTH board and management have harmed shareholders with this offering and its ton of warrants - they are playing a very dangerous game and will face the consequences.
the primary reason DCTH stinks is the utter disregard for shareholders and flagrant disregard of fiduciary responsibility by the board and managment who is beholden to the board (eg acting CEO is grateful to no longer be acting). imo the technology works and We the shareholders own it and the company. If they announced this deal before the shareholder meeting, they would all be gone.
We really need to let them feel the full consequences, both criminal and civil, of their breach of fiduciary responsibility.
It harms shareholders via a ponzi scheme of warrants and may be a criminal and civil issue to board and management. Do a straight stock offering at close to cash value of company and put your own money into it. The lack of a partner says much about the business acumen of the board and managment.
162 k shares on 7/22 and 7/23 between 0.49 and 0.50 per share. Kudos to her and to Rueckert (although his purchase is more of a token)
Stoll, most of board and all of management remain deadbeats so far re purchase