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Post by cedafuntennis on May 16, 2017 0:59:52 GMT -5
Pattaya? I spent 3 years around Pattaya between 2011 and 2014. Dated this girl and life was good. Too bad the Russians made such a mess of that city. Then Mannkind which I was relying on to get my real estate project back started going south and I had to come back to the US and get back my IT job I was hoping to have left for good... Sorry, you brought back good memories.... Enjoy!
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Post by babaoriley on May 16, 2017 1:32:08 GMT -5
But most of us did not get cards? No, but I received an option to receive cards!  |
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Post by matt on May 16, 2017 7:13:49 GMT -5
So a rights offering are additional securities offered to current shareholders at a discounted price to raise capital in a "non-dilutive" manner. Does anyone have experience with rights offerings, the effect on share price of the underlying security and can explain how this is "non-dilutive"? Even if an offer were made by the company, why would anyone take advantage of the offering without some indication that scripts were growing? I was involved in some rights offerings many years ago in Australia where they tend to be a more common way to raise money. Essentially the company distributes rights to buy more shares, either at market or at a discount, to every shareholder in lieu of going to the market via an investment bank. In the transactions I was involved with, the stock was a high flying tech stock that I had spun out of one of our subsidiaries and we were exiting that investment so we didn't buy more, but the rights themselves were tradable and we sold them off for a several million in extra cash. In some offerings the rights are tradable, like a warrant, and in other cases they are not tradable which means the right is a "use it or lose it" deal. In order to be tradable, the security has to be separately registered with the SEC and admitted for trading on the NASDAQ, neither of which is cheap. If a company has to raise money (and I think MNKD does) they can offer stock at a 30% discount plus warrants to hedge fund investors that will crush the price, or they can offer the same deal to their shareholders. Those who want to double down can send more money and keep on owning the same percentage of the company as now, so in that sense it is non-dilutive. If you don't want to invest more, or don't have the cash, then you will get diluted by others but you can soften the blow by selling off the rights if the rights have been registered, but if the rights are not registered they simply expire. Typically rights are only good for a short time, like 60 days, and stock related to unused rights is sold into the market by an investment bank. So, the cash will be raised one way or another, but the shareholders have the chance to enjoy the discount instead of the hedge fund. As for who got yellow cards, I mentioned that the names likely came from the DTC's NOBO list. If you are an objecting beneficial owner (an OBO) then you are not listed, and the list shows how many shares you own. The mailing might have gone out to those who held a certain minimum number of shares and you don't have enough to trigger a mailing, or else you have enough but the shares are spread over several accounts. The NOBO list does not have a way to consolidate multiple accounts so if you have 5,000 shares at five different brokers, you might show up on the list five times as a holder of 1,000 shares. I don't really know the particulars of what these particular guys are up to, but that is generally how NOBO information works; the rest is an educated guess. |
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Post by sportsrancho on May 16, 2017 9:22:10 GMT -5
Great:-((. This sucks!
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Post by goyocafe on May 16, 2017 9:44:25 GMT -5
If there is some sort of rights offering, I'd like to see every executive at Mannkind participate in it. Practice what you preach.
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Post by madog365 on May 16, 2017 9:52:47 GMT -5
IF a rights offering is really what they want, it seems deceptive and self serving to me - especially if they bought in big last week and want a further discount on shares.
These guys have the money to go at it alone, buy the equity on the open market if they really believe it's worth much more than current pps level. Or instead of pushing the rights offering make a tender offer to the shareholders at what they believe it is worth. Of course they know that no shareholder here will accept anything they are willing to offer at the current moment and that includes the mann group who i am sure they have already approached.
Something about it doesn't sit right with me.
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Post by kc on May 16, 2017 10:07:34 GMT -5
Personally I think that there is an Activist investor on board and Management knows it and hired Aegis as a defensive mode. You have to wonder why send out the Yellow Cards and then not even take the calls from the folks who received them.
They (yellow cards) were sent out before the wild share ride up and down but it was because they (Management) knew that they were under attack.
It would not surprise me if a 13D was filed sometime before the shareholders meeting showing that the company had a new 10% or more investor and he shows up at the shareholders meeting much like Henry Orlosky did last year and makes his comments and asks for a seat on the board. Perhaps I am dreaming but it could really happen.
www.sec.gov/fast-answers/answerssched13htm.html
Schedule 13D
Schedule 13D is commonly referred to as a “beneficial ownership report.” The term "beneficial owner" is defined under SEC rules. It includes any person who directly or indirectly shares voting power or investment power (the power to sell the security).
When a person or group of persons acquires beneficial ownership of more than 5% of a voting class of a company’s equity securities registered under Section 12 of the Securities Exchange Act of 1934, they are required to file a Schedule 13D with the SEC. (Depending upon the facts and circumstances, the person or group of persons may be eligible to file the more abbreviated Schedule 13G in lieu of Schedule 13D.)
Schedule 13D reports the acquisition and other information within ten days after the purchase. The schedule is filed with the SEC and is provided to the company that issued the securities and each exchange where the security is traded. Any material changes in the facts contained in the schedule require a prompt amendment. The schedule is often filed in connection with a tender offer.
The Verbiage of the Aegis card states: There have been recent developments with regard to MannKind. To receive a current update on MannKind Please Contact:
But Aegis only puts you into VM and they Don't call you back.
Something is about to happen. Good or Bad? I don't know. Hopefully a good BO offer for the Shareholders.
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Post by dg1111 on May 16, 2017 10:12:21 GMT -5
A few people reached out to Aegis, but has anybody actually got through to anybody?
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Post by n8 on May 16, 2017 10:12:47 GMT -5
I have a different contact on my cards. Ideas as to why?
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Post by kc on May 16, 2017 10:18:16 GMT -5
My Cards had
Bryan Lubitz SVP
Frank Giacalone SVP.
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Post by dreamboatcruise on May 16, 2017 10:36:14 GMT -5
It's likely better than some of the alternatives. To be successful I think they'd need to announce ahead of time that the Mann entities have agreed to participate. If that were the case I might very well fully participate. I still would be optimistic about Afrezza and MNKD if they resolve their funding issues. A rights offering with Mann entities participating that raised a year's worth of funding in my opinion would be exactly what is needed. Sadly, the Mann entities may not have the cash resources to do that. I wouldn't participate in a rights offering unless management were offering some strong assurances that they'd have the runway needed to show very significant script growth. |
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Post by goyocafe on May 16, 2017 10:44:22 GMT -5
Maybe the Aegis conundrum was a back up plan in case the UAE purchase didn't get done, or in time. Just throwing pasta against the wall. If it comes through, it could right the ship overnight in terms of cash flow. We don't know anything about the deal so who knows.
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Post by louaboardalia on May 16, 2017 10:47:40 GMT -5
Maybe we are asking the wrong questions and we should be asking: Who is Aegis Capital Corp. and what's in it for them? Here's what I have learned, which makes me think this smells like rotting fish. 1) Calls to the listed number just roll over to voice mail. Why not simply post related information to a website? Likely because someone will try and sell us something. 2) Mannkind has offered no information on the matter, which I suggest would be a "material development" for the company. 3) www.investmentnews.com/article/20170315/FREE/170319960/broker-dealer-aegis-capital-facing-investigation-from-finra-sec-and(Broker-dealer Aegis Capital facing investigation from Finra, SEC and FINCEN By Bruce Kelly, May 15, 2017 (last month) An SEC filing did not say why the firm is being investigated and a lawyer for the firm declined to comment.) and 4) www.investmentnews.com/article/20150803/FREE/150809988/finra-fines-aegis-capital-nearly-1-million-over-penny-stock-sales(Finra fines Aegis Capital nearly $1 million over penny stock sales By Mason Braswell, August 5, 2015 Broker-dealer also agreed to pay $950,000 as part of a settlement with Finra over allegations of improper sales ...) Conclusion thus far: While I hope I'm wrong, I do not feel this is going to end up a good thing for shareholders if Aegis Capital Corp. is involved. I guess we will know soon enough.
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Tinkerbell
Researcher
Watcher of the Skies
Posts: 143
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Post by Tinkerbell on May 16, 2017 10:53:09 GMT -5
Totally agree that if the Yellow Card development is one intended to precede a money raise than yes, most definitely I'd like to be part of a private offering. Yes I would because I for one believe Afrezza is WAY undervalued on account of what's happened in the United States with the poorly managed Sanofi launch. I believe that whole heartedly.
I also believe that with the new strategies developed over the last year, we'd see far better launch results compared to the US in another country. I've said as much in earlier posts.
Wouldn't it be nice for a change that Main St. investors be included in a private offering at a 30% discount? I know what the losses have been on this investment and it's not because Afrezza does not work miracles. That is NOT the reason. Everyone knows what's caused the value of this company to erode spearheaded by ruthless and greedy liars and players. Right?
I keep reminding myself that MannKind is not just about Afrezza alone but potentially about 10's / 100's of patents for other inhalable compounds. The Technosphere platform IS FDA approved already - it does not need to be tested again so that particular barrier has been crossed. The sky could be the limit for Technosphere provided Afrezza can succeed outside of the United States. Really, isn't that the bet here if a private offering materializes? I think it might be but I'm just guessing.
On another note, assume that individual shareholders do not purchase the amount offered and needed by MNKD, could any remaining shares be extended to a BP - like an Amgen? Perhaps. And if the amount purchased was equivalent to 5%, then that could bode well for us shareholders. All speculation.
Whatever the case, I suspect that unlike the poor partnership agreement they forged with Sanofi, any company that may take a 5% stake in MannKind coming out of a private offering (if such offering materializes) it is very unlikely such company will NOT stand idly by and watch their investment dry up on the vine in the burning sun of the competition.
We should know more on Thursday.
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Post by dreamboatcruise on May 16, 2017 10:53:21 GMT -5
My Cards had Bryan Lubitz SVP Frank Giacalone SVP. Mine is Brian Rocowitz, Managing Director (of lizard outreach) |
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