|
|
Post by tbone on Jul 29, 2015 8:42:28 GMT -5
$56M is small when compared to $2B in Market value. This is a small benign dilution. small dilution, yes. But why not sell shares into the market with the ATM when we were trading close to and above the 6.80 conversion price not long ago? Now we can sell 12 million shares under $5. Brilliant! |
|
|
|
Post by tchalaa on Jul 29, 2015 8:42:34 GMT -5
Plain language: MannKind rolls over ~$85M in convertible debt into new debt and shares In privately negotiated exchange agreements with select holders of $84.6M of its existing 5.75% Senior Convertible Notes due 2015, MannKind agrees to issue an aggregate of $27.7M in new 5.75% Senior Subordinated Convertible Notes due 2018 and issue common stock for up to $56.9M aggregate principal amount of the 2015 notes. The number of shares will be determined on the basis of future market prices. seekingalpha.com/news/2668145-mannkind-rolls-over-85m-in-convertible-debt-into-new-debt-and-shares |
|
|
|
Post by tmann on Jul 29, 2015 8:45:03 GMT -5
Petech - if you do reach Matt, I would be curious as well as the status of the 9 million borrowed shares; also, the language in the 8-k indicates that the stock issued in exchange for debt seems to be "unregistered" shares - is that standard language or is this restricted stock. I for one, do not mind the stock exchange for shares; it indicates a bullish mindset on the note holders, and the $56 million involved is very similar to the $50 million ATM that was always in play; however, I like this approach since it keeps short sellers from direct acquisition of the shares to cover their arses.
Didn't it say "new unsecured?" I think the 9 m shares return to the treasury. |
|
|
|
Post by nylefty on Jul 29, 2015 8:47:59 GMT -5
OK I will give you one example of being hoodwinked by Al. He stated that Alfreeza will be the largest selling drug in history. In the first 6 months it is not shaping up to be even close. Al said it would be the largest selling drug in history in its first six months on the market? Really? Somehow I missed that. |
|
|
|
Post by gamblerjag on Jul 29, 2015 8:49:03 GMT -5
Before this news I just called to refi my home again ..cash out.. I must say this is excellent news for me. Sorry! Where I had figured on 35,000 more shares I am hoping now to get 50, 000 more shares early Sept. / late August.. hopefully
|
|
|
|
Post by purge on Jul 29, 2015 8:51:40 GMT -5
The best predictor of the future is the past.
History doesn't repeat itself, but trends do.
|
|
|
|
Post by tmann on Jul 29, 2015 8:54:06 GMT -5
Which appears to me to the the shorts in what mom call a "straight."
Of course I could be wrong. I only read it with my left eye. The other was watching market manipulation this morning and bugging out like a cartoon animal's. What can the SEC be doing these days?
|
|
|
|
Post by tmann on Jul 29, 2015 8:59:14 GMT -5
OK I will give you one example of being hoodwinked by Al. He stated that Alfreeza will be the largest selling drug in history. In the first 6 months it is not shaping up to be even close. I don't believe this is true. But it will be, unless of course liars and cowards wim. But that's not so likely anymore is it? |
|
|
|
Post by nugjuice on Jul 29, 2015 9:00:58 GMT -5
Frustration is to be expected, but you can't really ever say Al hoodwinked shareholders when he's the largest shareholder.
I've never heard of a Billionaire trying to hoodwink themselves
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 29, 2015 9:02:17 GMT -5
OK I will give you one example of being hoodwinked by Al. He stated that Alfreeza will be the largest selling drug in history. In the first 6 months it is not shaping up to be even close. Your comment indicates you play well below the rim. Is that how you want to position yourself? If you have decided that the brief time that Afrezza has been available provides enough data for you to make a complete and thorough decision as to how well the product will sell over a much longer time frame then so be it. Hardly enough time for me to draw a definitive conclusion but to each his own. Markets typically over react so if you wait a bit, you can get a few more bucks for your shares. Best of luck to you. |
|
|
|
Post by mssciguy on Jul 29, 2015 9:03:03 GMT -5
Which appears to me to the the shorts in what mom call a "straight." Of course I could be wrong. I only read it with my left eye. The other was watching market manipulation this morning and bugging out like a cartoon animal's. What can the SEC be doing these days? You don't know? If SEC employees keep their desks clean and eyes closed, they get great jobs for big money with Goldman or hedge funds eventually. These are the words from a retiring SEC enforcement attorney last year. The people on top stop a lot of investigations. |
|
|
|
Post by hankscorpio7 on Jul 29, 2015 9:03:38 GMT -5
All have to do is keep pps above $10 until Aug. 11- only 5.5m dilution. If shorts keep stock at $2 for more then 10 days, 28m. Something to fight over.
So AF was correct about debt and dilution? Say it ain't so Matt, say it ain't so...
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 29, 2015 9:06:26 GMT -5
Petech - if you do reach Matt, I would be curious as well as the status of the 9 million borrowed shares; also, the language in the 8-k indicates that the stock issued in exchange for debt seems to be "unregistered" shares - is that standard language or is this restricted stock. I for one, do not mind the stock exchange for shares; it indicates a bullish mindset on the note holders, and the $56 million involved is very similar to the $50 million ATM that was always in play; however, I like this approach since it keeps short sellers from direct acquisition of the shares to cover their arses.
I too would like to better understand what unregistered translates into in real world terms. Neither the 2018 notes nor the shares of common stock to be issued in exchange for the 2015 notes have been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. - See more at: investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=924457#sthash.stwXdQpn.uuCnejcn.dpuf |
|
mnkdnyc
Lab Rat
Posts: 48
Sentiment: Long
|
Post by mnkdnyc on Jul 29, 2015 9:08:07 GMT -5
When a blockbuster comes on the market it usually comes with much fanfare. TV ads, radio, newspaper, web, social media. Are we really running the show like it is a blockbuster? No!! How come? Maybe it is not a blockbuster and just a niche product. I've have lost a ton on this stock and I cannot stand the constant singing of Annie. Tomorrow, tomorrow....
|
|
|
|
Post by mdcenter61 on Jul 29, 2015 9:09:25 GMT -5
Before this news I just called to refi my home again ..cash out.. I must say this is excellent news for me. Sorry! Where I had figured on 35,000 more shares I am hoping now to get 50, 000 more shares early Sept. / late August.. hopefully
Gonna start calling you "Riverboat Gamblerjag"!
|
|
