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Post by dh4mizzou on Jun 8, 2022 8:40:30 GMT -5
Can't recall which thread it was in but someone stated that maybe MC hit the ATM when 10m share were traded in 3 large blocks a few days ago. If that is the case when does MNKD need to report that? If they did NOT hit the ATM what does everyone think those shares represent?
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Post by cjm18 on Jun 8, 2022 8:50:34 GMT -5
No.
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Post by dh4mizzou on Jun 8, 2022 9:00:36 GMT -5
Thanks cjm18. That was very enlightening.
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Post by cjm18 on Jun 8, 2022 9:23:54 GMT -5
Thanks cjm18. That was very enlightening. Glad I can help. |
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Post by akemp3000 on Jun 8, 2022 9:38:24 GMT -5
It's looking more and more like someone just made up the idea that the ATM may have been tapped. No worries, the federal government will soon have a department of misinformation. Yes, this is sarcasm as everyone should be terrified of any government that restricts free speech while declaring themselves the arbiter of truth. Historically, only evil governments have tried or accomplished this.
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Post by neil36 on Jun 8, 2022 11:04:35 GMT -5
I forget who first posted (here or on StockTwits) that it might have been Binder using the ATM. But the more I thought about it, the more I think that is the highest probability.
Think for a moment, who could put ten million shares up for sale over a ten minute span. BlackRock, State Street and Vanguard are the only holders with over ten million shares, State Street and Vanguard most likely just represent a pool of individual investments, as opposed to shares that could be sold in a block. No mutual fund or ETF holds ten million shares. And it is improbable that a mutual fund or ETF would dump ten million shares since the largest holders of MNKD are all index funds, which would only be dumping if MNKD was dropped from the respective index.
The other possibility is that someone opened up a ten million share short position and wanted to enter it all at once. The only place I can see that as possible, was if there was a corresponding change of hands in a large portion of the convertible note, and the new holder took out a new hedge.
Ten million shares, on 252 million shares outstanding, represents 3.97% of the company. Not an insignificant trade. But I personally think that it was shares being sold through the ATM (just a hunch to raise cash after closing the V-go acquisition). If not that, I think someone bought the convertible debt and needed a quick corresponding hedge.
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Post by wyattdog on Jun 8, 2022 11:12:21 GMT -5
might be the short position against the convertible senior notes being unwound.
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Post by uvula on Jun 8, 2022 11:33:57 GMT -5
Some of us, including me, are confused about how the ATM works. Does the ATM owner hold millions of shares of mnkd stock? Is the ATM just a loan that needs to be paid back?
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Post by awesomo on Jun 8, 2022 11:37:19 GMT -5
Some of us, including me, are confused about how the ATM works. Does the ATM owner hold millions of shares of mnkd stock? Is the ATM just a loan that needs to be paid back? Companies authorize additional shares to be sold ATM (at the market offering) at the company's discretion. So basically they are issuing new shares through a broker at around market prices to raise money. Of course, the downside is that the current pool of shareholders are diluted. |
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Post by uvula on Jun 8, 2022 11:43:05 GMT -5
Mnkd and us are expecting the price to increase when Tyvaso starts selling. If mnkd wanted to tap the ATM wouldn't it make sense to wait a few months?
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Post by stevil on Jun 8, 2022 12:49:43 GMT -5
Maybe they are playing it safe with a likely bear market on the horizon. I would have rather them taken the loan than ATM, although they may decide to do both.
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Post by peppy on Jun 8, 2022 12:50:55 GMT -5
Maybe they are playing it safe with a likely bear market on the horizon. I would have rather them taken the loan than ATM, although they may decide to do both. Cover your ass(ets.) |
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Post by sportsrancho on Jun 8, 2022 18:20:10 GMT -5
Maybe they are playing it safe with a likely bear market on the horizon. I would have rather them taken the loan than ATM, although they may decide to do both. Those were Mike’s thoughts before when he diluted he was “afraid of the market” that usually happens right before the market goes up. |
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Post by peppy on Jun 9, 2022 8:31:43 GMT -5
Maybe they are playing it safe with a likely bear market on the horizon. I would have rather them taken the loan than ATM, although they may decide to do both. Those were Mike’s thoughts before when he diluted he was “afraid of the market” that usually happens right before the market goes up.For you sports. |
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Post by prcgorman2 on Jun 9, 2022 11:58:35 GMT -5
Maybe they are playing it safe with a likely bear market on the horizon. I would have rather them taken the loan than ATM, although they may decide to do both. Those were Mike’s thoughts before when he diluted he was “afraid of the market” that usually happens right before the market goes up. The December surprise. Mannkind selling shares the shareholders authorized for the purpose would not cause the market to go up or down and “now is as good a time as any” could easily be the thinking of a CFO watching current market conditions and looking to use equity to capitalize operations. Binder has been brilliant. I trust his judgement. |
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