maybe u should change name to Claire Voyant as you can see into future :)
that type of trading before an offering is not unique to STXS. with other companies, its generally the investment banker who manipulates their retail arm to drive price up. with STXS, not sure if the last rights offering had such a relationship - if not maybe it was the hedgies including Mills and Middleton/Sanderling.
pops that are associated with insignificant PR (current pop) are pumps in advance of equity or warrant offerings.
pops that come out of nowhere represent buying interest by institutions, activists, or potential acquirers.
pops that are associated with significant PR (huge sales increases, major breakthroughs) are also significant
they were too cautious when it ran to 10 on huge (pronounced "yuge" lol) volume a few years ago. they could have issued sufficient shares to eliminate debt and could have avoided subsequent offerings
out of compliance if it doesnt maintain cap for 30 consecutive business days. regain compliance if it maintans cap for 10 days (from PRs of other companies) - doesnt make sense but i'll take it.
I'm coming around to your point about PPS manipulation - incredible the way they are closing it at or above 1.625. i am still a bit skeptical about whether or not they are doing this for personal gains.
they must meet 2 requirments, above a buck and one of the following
earnings, shareholder equity ($2.5M) or market cap - the first 2 are out, therefore the market cap requirement of $35 M. look up nasdaq rule 5550.
aug 15, 2015 - STXS received letter of noncompliance with market cap rule,
feb 2, 2016 STXS received letter that they failed to achieve compliance within 180 day period . STXS submitted letter to Nasdaq requesting hearing which "stayed" delisting pending hearing. Nasdaq at its discretion could extend listing up until July 31st
Please do your DD before posting inaccurate info.
It looks like Mills or MIddleton left for early weekend enabling share price to drop below $35M market cap on Friday. Too bad.
each of the above is preferable to public secondaries. many of the investment banks doing them rape the shareholders via a combination of low priced shares and very diluitive warrants.
the rule says at least $35M. No decimal points. I wonder if rounding is permissible below $35M, ie $34.5M = $35M. If so then the allowable share price is $1.60 and Friday's close counts.
there are 2 requirements it must meet $1 PPS and $35 M market value of listed shares.
check nasdaq rule 5550. my point is $1.60 = market cap of $34.5M which can be expressed as $35M without decimal point
They are the same. As for one example for not meeting $35M requirment - RCPI was delisted in Nov. Lets stick with facts, not conjecture