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Post by dreamboatcruise on Sept 26, 2017 13:30:11 GMT -5
Big drop during the last part of the week (the ADCOM was Monday, I believe and the stock was halted). We were around $6 or $7 based on a run-up to AdCom, then finished the week at $4!! Lots of doom and gloom predicted based on that fall, but a buying opp for the most astute (I do not recall being among the astute). Then, after AdCom, and the flying colors associated with that, I believe we got back to around $7 or $8, at which point the most astute sold some (again, I do not recall being among the astute). What are the astute doing now?  I always get astute and obtuse confused... one of them is good and one bad, right? |
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Post by peppy on Sept 26, 2017 13:34:07 GMT -5
my astute cried wee wee wee all the way home.
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Post by brentie on Sept 26, 2017 13:43:00 GMT -5
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Post by dreamboatcruise on Sept 26, 2017 13:43:23 GMT -5
I understand peoples' patience here continues to be tested... But now is not the time to waiver. We are on the brink here and all cards are about to be turned over on the table. The label change decision will help decide many things and among them, the type of financing this company will pursue/receive. But don't fret even a negative decision will not stop growth at this point, while positive decision will only serve to amplify what we are already seeing with the current label. We are closer than ever before. There is one thing that demonstrably we are closer to than ever before  Hopefully the ship is turning fast enough that we sail by and then celebrate being far away. The band is quite delightful up here in the ocean breeze. Surely it must be a good sign the band is playing so calmly. |
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Post by jonny80s on Sept 26, 2017 13:51:00 GMT -5
Oct 31st... is a payment due on that date??
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Post by peppy on Sept 26, 2017 14:06:36 GMT -5
Oct 31st... is a payment due on that date?? mnkd.proboards.com/thread/8135/mannkind-renegotiates-near-maturities-deerfield?page=1
VALENCIA, Calif., June 29, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) and affiliates of Deerfield Management Company L.P. ("Deerfield") have entered into an exchange and third amendment to their facility agreement (the "Facility Agreement"), pursuant to which MannKind's $10 million principal maturity previously due on July 18, 2017 will be extended to October 31, 2017, subject to certain conditions, the existing minimum liquidity covenant is reduced as fully described below, and Deerfield will exchange $5 million of the Amended and Restated 9.75% Senior Convertible Notes due December 2019 (the "Tranche 4 Notes") for 3,584,230 shares of MannKind's common stock (the "Exchange Shares"). The exchange price for the Exchange Shares is $1.395 per share. The principal amount being repaid and exchanged under the Tranche 4 Notes represents the principal amount that would have otherwise become due and payable in December 2019.
Pursuant to the terms of the exchange and amendment agreement, Deerfield has agreed to extend its existing $10 million principal maturity from July 18, 2017 to August 31, 2017 and, subject to certain conditions on that date, further extend it to October 31, 2017. These conditions include that MannKind has not experienced a Material Adverse Event or an Event of Default (as such terms are defined in the Facility Agreement), that MannKind has received approximately $19.4 million of proceeds from the Loan Arrangement between MannKind and The Mann Group LLC, and that the Company has at least $10 million in Cash and Cash Equivalents (as such terms are defined in the Facility Agreement). Subject to these conditions, Deerfield has also agreed to amend the terms of the minimum liquidity covenant under the Facility Agreement such that, on the last day of each month through October 31 and on December 31, 2017, MannKind must maintain at least $10 million of Cash and Cash Equivalents (instead of $25 million).
Michael Castagna, MannKind's Chief Executive Officer commented, "The extension of the July 2017 principal payment to Deerfield and the amendment of the Facility Agreement affords us flexibility and time to explore additional measures to strengthen our financial position. Just as with the Mann Group and its recently announced capital infusion, we appreciate the cooperation and support of Deerfield at this exciting time for MannKind."
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1031797
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Post by straightly on Sept 26, 2017 14:42:06 GMT -5
Could it be that Mike was expecting to have something finalized in time for yesterday but still not done? Isn't the Merck CEO supposed to say how much he loves Technosphere by the end of this week? I just hope I'm not on a bar stool when he says it. If you have to drink while waiting, I am sure you can no longer stay in the bar stool. |
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Post by promann on Sept 26, 2017 14:57:51 GMT -5
first step is the label change news, anytime this week. I am keeping my eye out for the post. (sla4235  ). She is the fastest gun for shooting out news for MNKD. I think she has a fast computer with great service and she also must constantly watch for news 😉 Way to go Sla from the north woods. |
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Post by babaoriley on Sept 26, 2017 15:01:13 GMT -5
Sla is bionic.
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I always get astute and obtuse confused... one of them is good and one bad, right?
).
