Next Share Authorization
Dec 21, 2018 15:19:32 GMT -5
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traderdennis, sweedee79, and 3 more like this
Post by mannmade on Dec 21, 2018 15:19:32 GMT -5
It seems with the recent offering mnkd is now just about out of shelf shares, although I do not know the exact number left. This as I understand it presents two issues:
1. Leaves mnkd vulnerable to a hostile takeover
2. Leaves no more shares available to raise future funds
So am guessing mnkd will have to put forth another authorization vote for between 160m to 200m shares (again a guess on my part) but seems appropriate since they went thru 160m shares or so in about a one year period.
I would imagine this will pass as retail does not control the vote.
However, as soon as 12.26 quiet period is over for current offering I would expect some details on the current transaction of why it was done and what the plan moving forward is and how this fits into it.
1. Leaves mnkd vulnerable to a hostile takeover
2. Leaves no more shares available to raise future funds
So am guessing mnkd will have to put forth another authorization vote for between 160m to 200m shares (again a guess on my part) but seems appropriate since they went thru 160m shares or so in about a one year period.
I would imagine this will pass as retail does not control the vote.
However, as soon as 12.26 quiet period is over for current offering I would expect some details on the current transaction of why it was done and what the plan moving forward is and how this fits into it.
