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Post by qwertqwert on Mar 3, 2021 20:02:23 GMT -5
I realize that most people are not unhappy with the notes/capital raise, they were unhappy with how the communication surrounding the offering was handled. Could it have been done in a manner that had less of a negative impact on share price, I don't know, maybe marginally. Correct me if I am wrong, but... didn't this offering give us more than 2.3 times as much working capital as we had under the Mid-Cap agreement (200mm under notes vs. 60mm under Mid-Cap after retained escrow)? And didn't it at the same time reduce our interest expense from roughly $6mm to $4mm annually? That in-and-of itself seems to me to be the proverbial rabbit being pulled from a hat and is testament to how much better shape we are in as share holders than we were just a few months ago. Now somebody pass me the Kool-aid... What about the fact that it was announced first thing Monday more, max pain. wtf? |
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Post by Chris-C on Mar 3, 2021 20:17:01 GMT -5
I realize that most people are not unhappy with the notes/capital raise, they were unhappy with how the communication surrounding the offering was handled. Could it have been done in a manner that had less of a negative impact on share price, I don't know, maybe marginally. Correct me if I am wrong, but... didn't this offering give us more than 2.3 times as much working capital as we had under the Mid-Cap agreement (200mm under notes vs. 60mm under Mid-Cap after retained escrow)? And didn't it at the same time reduce our interest expense from roughly $6mm to $4mm annually? That in-and-of itself seems to me to be the proverbial rabbit being pulled from a hat and is testament to how much better shape we are in as share holders than we were just a few months ago. Now somebody pass me the Kool-aid... What about the fact that it was announced first thing Monday more, max pain. wtf? Well, I swear I'm not one who gets easily duped into believing conspiracy theories. Truly. But please forgive me if I notice an m.o. here. This time it was more subtle...a gradual rise to 6+ (as happened before a dilution was announced) and then pretty much the same thing in slow motion this time. No real news to substantiate the increase in share price. There was chatter all over the board about head fakes, and then when it kept on rising and holding the lows, many of us started believing that the reason was mr. market waking up to the company's potential. We will never probably know the full story, but call me skeptical. I have the suspicion that this has been brewing for quite some time. We will know more when MNKD announces (probably on Friday), that the convertible notes have been placed. |
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Post by babaoriley on Mar 3, 2021 20:49:12 GMT -5
Chris-C, you'd best believe this was brewing for some time, that's a lot of money being privately placed, it's not exactly an "impulse" buy!  |
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Post by cretin11 on Mar 3, 2021 20:56:36 GMT -5
Chris-C, you'd best believe this was brewing for some time, that's a lot of money being privately placed, it's not exactly an "impulse" buy! Wait are you implying it wasn’t simply UTHR buying the whole lot, to take a stake in MNKD? That wouldn’t take too long! |
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Post by prcgorman2 on Mar 3, 2021 21:59:19 GMT -5
I realize that most people are not unhappy with the notes/capital raise, they were unhappy with how the communication surrounding the offering was handled. Could it have been done in a manner that had less of a negative impact on share price, I don't know, maybe marginally. Correct me if I am wrong, but... didn't this offering give us more than 2.3 times as much working capital as we had under the Mid-Cap agreement (200mm under notes vs. 60mm under Mid-Cap after retained escrow)? And didn't it at the same time reduce our interest expense from roughly $6mm to $4mm annually? That in-and-of itself seems to me to be the proverbial rabbit being pulled from a hat and is testament to how much better shape we are in as share holders than we were just a few months ago. Now somebody pass me the Kool-aid... I’ll pass the kool-aid after having another swig. Your accounting analysis is correct. The $200M is potentially dilutive, but on surprisingly good terms both in interest and the quantity of shares which would convert if Mannkind doesn’t pay the loan back. We need the details, and somebody like Matt or Aged to give us the summary version understandable by mortals without an MBA. This head fake is not (yet) a head ache. I don’t care if the SP took a hit. I wasn’t selling anyway. In fact, I bought. Good chance I’ll buy some more soon. If Dr. Castagna and team are wise with the money they’ve raised, we will have ample reasons to thank them for this latest move. |
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Post by buyitonsale on Mar 4, 2021 1:39:24 GMT -5
There is nothing special here to understand other than this is a good deal for MNKD at this point in time.
I’m sure the average conversion rate will be a lot higher when redemption is elected in 2025, that’s the only mystery left ... we should find out once details are released.
Buy and hold.
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Post by hellodolly on Mar 4, 2021 7:23:30 GMT -5
Chris-C, you'd best believe this was brewing for some time, that's a lot of money being privately placed, it's not exactly an "impulse" buy! Like I mentioned in another thread...when word got out that this was being shopped around for private placement, I'm betting that was when we began to see a SP increase (on the lack of any news). One side of the strategy used was to slowly increase the SP while the house was stacking the other side with PUTS etc. Just another day on WS. |
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Post by pat on Mar 4, 2021 7:26:15 GMT -5
What about the fact that it was announced first thing Monday more, max pain. wtf? Well, I swear I'm not one who gets easily duped into believing conspiracy theories. Truly. But please forgive me if I notice an m.o. here. This time it was more subtle...a gradual rise to 6+ (as happened before a dilution was announced) and then pretty much the same thing in slow motion this time. No real news to substantiate the increase in share price. There was chatter all over the board about head fakes, and then when it kept on rising and holding the lows, many of us started believing that the reason was mr. market waking up to the company's potential. We will never probably know the full story, but call me skeptical. I have the suspicion that this has been brewing for quite some time. We will know more when MNKD announces (probably on Friday), that the convertible notes have been placed. Money everywhere and primary issuance off the charts for the past 12 months. Taken in context with what is happening across broader fixed income, not really all that remarkable. My personal opinion, stock price was going up because more interest in stock. MNKD took advantage of current conditions to do a favorable capital raise. Window is closing with spiking treasury yields. |
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Post by morfu on Mar 4, 2021 9:54:30 GMT -5
Well, I swear I'm not one who gets easily duped into believing conspiracy theories. Truly. But please forgive me if I notice an m.o. here. This time it was more subtle...a gradual rise to 6+ (as happened before a dilution was announced) and then pretty much the same thing in slow motion this time. No real news to substantiate the increase in share price. There was chatter all over the board about head fakes, and then when it kept on rising and holding the lows, many of us started believing that the reason was mr. market waking up to the company's potential. We will never probably know the full story, but call me skeptical. I have the suspicion that this has been brewing for quite some time. We will know more when MNKD announces (probably on Friday), that the convertible notes have been placed. Money everywhere and primary issuance off the charts for the past 12 months. Taken in context with what is happening across broader fixed income, not really all that remarkable. My personal opinion, stock price was going up because more interest in stock. MNKD took advantage of current conditions to do a favorable capital raise. Window is closing with spiking treasury yields. I can believe that, we are doing good, because everyone is doing good..
But I do not understand what happened the last days..
Millions of shares shorted with a price under $4. Just like last year, when the money situation finally started to look less grim, lots of shares sold short under $2 and even under $1.. none of these short sales ever got close to get their money back. I do not see the reason for this behavior and would like to understand it. If it is anything like the past, the shorts got some money for selling the shares but have to pay now interest on it (not a lot currently). I cannot see any basis for the share price getting significantly lower (beside an unknown health risk caused by Afrezza or so, which seems highly unlikely).
Is it just that they made so much money selling above $5 that they now can keep it below 4$ and use the money for other investments? (That seems a risky strategy as over the last month the price popped up without much resistance an might do it again!?)
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Post by apidistra on Mar 4, 2021 10:38:29 GMT -5
Well, I swear I'm not one who gets easily duped into believing conspiracy theories. Truly. But please forgive me if I notice an m.o. here. This time it was more subtle...a gradual rise to 6+ (as happened before a dilution was announced) and then pretty much the same thing in slow motion this time. No real news to substantiate the increase in share price. There was chatter all over the board about head fakes, and then when it kept on rising and holding the lows, many of us started believing that the reason was mr. market waking up to the company's potential. We will never probably know the full story, but call me skeptical. I have the suspicion that this has been brewing for quite some time. We will know more when MNKD announces (probably on Friday), that the convertible notes have been placed. Money everywhere and primary issuance off the charts for the past 12 months. Taken in context with what is happening across broader fixed income, not really all that remarkable. My personal opinion, stock price was going up because more interest in stock. MNKD took advantage of current conditions to do a favorable capital raise. Window is closing with spiking treasury yields. Simplest, most direct reasoning yet. Yes! |
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Post by mymann on Mar 4, 2021 10:43:31 GMT -5
Look on the bright side, at least mnkd management has $300 million to keep the light on and live of the gravy. Job security for life.
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Post by celo on Mar 4, 2021 11:45:39 GMT -5
Someone sold a very large position upon Mannkind receiving this funding. The selling has occurred from large blocks of trades without much care of the eventual stock price. The buying has occurred from small purchases that keep testing the bottom. This morning's trading is very indicative of someone exiting a position.
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Post by celo on Mar 4, 2021 12:03:36 GMT -5
Either Mid-cap, Mann foundation or the new buyer probably is doing the selling. This also triggers a ton of stop loss points for flippers and others. It will be interesting if it continues after Mannkind signs the deal. I do not think so, but I've been wrong so many times before.
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Post by longliner on Mar 4, 2021 12:05:32 GMT -5
Hmmm, I sense a change in the air. Is the deal done? Off topic, I'm watching moose feed across the lake, birds on the bird feeder out the window. It does appear however from my last glance in the mirror that I've greyed a bit over the last few days. Life. |
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Post by celo on Mar 4, 2021 12:59:45 GMT -5
Is Canada home, longliner? Sounds Awesome! I'm going for a hike up in the Santa Ynez mountains behind my house. Enjoy! Sounds like you are very lucky.
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