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Post by neil36 on Jul 16, 2024 16:33:45 GMT -5
“Before December 1, 2025, holders will have the right to convert their notes only upon the occurrence of certain events. From and after December 1, 2025, until the close of business on the business day immediately preceding the maturity date, holders will have the right to convert all or any portion of their notes at their election. Upon conversion, MannKind will pay or deliver, as the case may be, cash, shares of MannKind’s common stock or a combination of cash and shares of MannKind’s common stock, at its election. The initial conversion rate is 191.8281 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $5.21 per share of common stock. The initial conversion price represents a premium of approximately 30% over the last reported sale of $4.01 per share of MannKind’s common stock on March 1, 2021. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
MannKind may not redeem the notes prior to March 6, 2024. MannKind may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after March 6, 2024 and prior to the 36th scheduled trading day immediately preceding the maturity date, if the last reported sale price of MannKind’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which MannKind provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.”
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Post by celo on Jul 16, 2024 16:44:49 GMT -5
The IF in the second paragraph is very important
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Post by cretin11 on Jul 16, 2024 17:24:28 GMT -5
Thanks Neil!
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Post by sayhey24 on Jul 16, 2024 18:39:26 GMT -5
You guys are mucking up my thread.  We hit $6. You want $6, we got $6 but $6 is boring. It should be a pit stop on the way to $20. Insurance and the kids approval and we have $20. |
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Post by stockwhisperer on Jul 16, 2024 18:47:21 GMT -5
Ok, so after earnings, as long as it stays in the $6’s just prior to earnings, I will go with, $7.25. If it is in the high $5’s just prior to earnings, I’ll go with $6.50
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Post by prcgorman2 on Jul 16, 2024 19:31:32 GMT -5
hellodolly - I liked your post mentioning the buoyancy of the share price being a combination of things. We don’t know the complexion of the “consortium” of investors that are the covertible bond note holders. We don’t know how many they are or how big are their positions. I’ve assumed they’re shorting MNKD, and at some point they will go long or at least close out their short positions. I’ll speculate the short positions were mostly created at or below $4 which would mean at most about half the convertible bond debt was hedged with short positions. Half of $230M would be $115M which would be the large majority of the 30M+ shares short. I’m not sure of these speculations at all, but maybe the debt holders have 30% of the open short interest? So maybe 10M shares or so? We saw ~1.5M shares covered in the last two-week period between SIR reports. If that rate of closing held, than maybe the debt holders will close out their positions within another 10 weeks? Would an extra 1.5M shares every two weeks add that much buying pressure to increase the share price like we’ve seen? The volume hasn’t been crazy, so one more “maybe” on the pile? Feel like we’re at a roulette wheel. Round and round she goes, where she stops, nobody knows.
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Post by porkini on Jul 16, 2024 21:06:34 GMT -5
Ok, so after earnings, as long as it stays in the $6’s just prior to earnings, I will go with, $7.25. If it is in the high $5’s just prior to earnings, I’ll go with $6.50 Erm, someone has to be the "bad" guy, lemme give it a shot, okay, $6.66!  |
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Post by daisyz on Jul 16, 2024 21:19:54 GMT -5
Seems to be a little resistance around the 6 level. Eventually it will just look like another stepping stone toward the push upward. How so? MNKD has been ticking up steadily for two weeks. $6 is just a number MNKD is passing through. |
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Post by BD on Jul 16, 2024 21:25:42 GMT -5
daisyz, look at the 5-yr chart. See how it keeps stalling out around $6? That's the definition of resistance.
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Post by daisyz on Jul 16, 2024 21:39:32 GMT -5
daisyz, look at the 5-yr chart. See how it keeps stalling out around $6? That's the definition of resistance. IMHO, means not much. Things are different now. Big boys have been sucking up shares on the bid for a few weeks. Anybody still shorting is in trouble. A few million shares of buying above the folks sucking up the bid shares and....good things happen w MNKD share price. That's what I see. |
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Post by sportsrancho on Jul 16, 2024 21:55:59 GMT -5
“A 52 week high shows that there is a strong chance of significant gains ahead. It often nudges investors to buy more securities of the company.”
$7+
( New 52 week high today )
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Post by mytakeonit on Jul 17, 2024 1:39:56 GMT -5
daisyz is a newcomer ... that deserves more stars. I don't know who she is ... but I think she will make a lot of $$$.
But, that's mytakeonit
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Post by letitride on Jul 17, 2024 4:16:46 GMT -5
$5 to $10 will get us $20 so $10 is good my August calls are counting on it. Lets Go!😎
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Post by BD on Jul 17, 2024 6:44:37 GMT -5
daisyz, look at the 5-yr chart. See how it keeps stalling out around $6? That's the definition of resistance. IMHO, means not much. Things are different now. Big boys have been sucking up shares on the bid for a few weeks. Anybody still shorting is in trouble. A few million shares of buying above the folks sucking up the bid shares and....good things happen w MNKD share price. That's what I see. So mtoi may be unteachable, daisy, but I'm holding out hope for you: technical analysis and fundamentals are considered completely orthogonal by those who know how to use TA. None of what you say is wrong, but there's beau coup resistance at $6 based on the chart and only the chart. That's what TA means. This point was brought home time and again by Brian Shannon, a friend of mine who is a TA guru, in his videos and trading teachings. He doesn't even want to know anything about the companies he's trading, he just goes by the charts. Personally, I use a bit of TA, but mostly the "story" is what interests me, and the fundies occasionally. Different strokes, etc. |
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Post by brentie on Jul 17, 2024 7:12:44 GMT -5
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