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Post by boca1girl on Nov 3, 2017 16:21:19 GMT -5
650,000 shares at last second. Hmmmm Maybe someone more skilled can weigh in. It looks like volume weighted average price was forced down to $2.91 on 11/1 by a large sale at way below the going price just before day's end. If so, that puts the 3-day average at around $3.16 - $3.17, which means Deerfield could fill their $10M order at $3.25. This is based on the VWAP indicator on Yahoo Finance, so if someone has better tools or information, that would be great! If that is the case, I hope Deerfield converts on Monday so we can move beyond the $3.25 point. I doubt they will take the $10M in cash in January. |
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Post by LosingMyBullishness on Nov 3, 2017 17:18:52 GMT -5
Maybe someone more skilled can weigh in. It looks like volume weighted average price was forced down to $2.91 on 11/1 by a large sale at way below the going price just before day's end. If so, that puts the 3-day average at around $3.16 - $3.17, which means Deerfield could fill their $10M order at $3.25. This is based on the VWAP indicator on Yahoo Finance, so if someone has better tools or information, that would be great! If that is the case, I hope Deerfield converts on Monday so we can move beyond the $3.25 point. I doubt they will take the $10M in cash in January. Please help me on that: Deerfield pushed the price down so that they can chose to convert to shares at 3.25? Why should they do this other than lack of trust in MNKD to deliver? |
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Post by xanet on Nov 3, 2017 17:38:20 GMT -5
If that is the case, I hope Deerfield converts on Monday so we can move beyond the $3.25 point. I doubt they will take the $10M in cash in January. Please help me on that: Deerfield pushed the price down so that they can chose to convert to shares at 3.25? Why should they do this other than lack of trust in MNKD to deliver? They have an option to take $10M cash in Jan (I believe) or to convert that to stock at anytime between now and then at a price equal to the volume-weighted average price over the previous 3 days or $3.25/share, whichever is greater. I did not say Deerfield pushed the price, but if I read the chart right, there was a large order well below the going price that tanked the volume-weighted average price on 11/1. If Deerfield plans to convert the shares to cash, that is the opportunity they needed. |
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Post by LosingMyBullishness on Nov 3, 2017 17:42:38 GMT -5
Please help me on that: Deerfield pushed the price down so that they can chose to convert to shares at 3.25? Why should they do this other than lack of trust in MNKD to deliver? They have an option to take $10M cash in Jan (I believe) or to convert that to stock at anytime between now and then at a price equal to the volume-weighted average price over the previous 3 days or $3.25/share, whichever is greater. I did not say Deerfield pushed the price, but if I read the chart right, there was a large order well below the going price that tanked the volume-weighted average price on 11/1. If Deerfield plans to convert the shares to cash, that is the opportunity they needed. Thanks. So an interpretation could be that they drove the price down to convert to shares. And this would be bullish. |
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Post by peppy on Nov 3, 2017 19:31:03 GMT -5
MNKD Nasdaq real time volume, 3,533,300 shares.
MNKD Nasdaq summary volume, 5,288,435 shares. www.nasdaq.com/symbol/mnkd MNKD $3.3075 plus 0.0775 plus 2.4%
prices are showing differently.
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Post by rockstarrick on Nov 3, 2017 22:23:53 GMT -5
If that is the case, I hope Deerfield converts on Monday so we can move beyond the $3.25 point. I doubt they will take the $10M in cash in January. Please help me on that: Deerfield pushed the price down so that they can chose to convert to shares at 3.25? Why should they do this other than lack of trust in MNKD to deliver? If you were going to buy 10 million dollars worth of mnkd stock would you rather buy @ $5; or $3.25 ?? @ $3.25 Deerfield gets a much bigger bang for their buck. GO MANNKIND đ |
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Post by LosingMyBullishness on Nov 4, 2017 3:06:31 GMT -5
Please help me on that: Deerfield pushed the price down so that they can chose to convert to shares at 3.25? Why should they do this other than lack of trust in MNKD to deliver? If you were going to buy 10 million dollars worth of mnkd stock would you rather buy @ $5; or $3.25 ?? @ $3.25 Deerfield gets a much bigger bang for their buck. GO MANNKIND đ I agree Rockstarrick. When I wrote this I had not understood it yet. Positive sign. I would have chosen the 10million, to be only once on the safe side of the deal. I have been with this stock for years and this rollercoaster had some negative effects on my quality of sleep. |
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Post by straightly on Nov 4, 2017 12:42:23 GMT -5
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Post by lakers on Nov 4, 2017 13:28:25 GMT -5
The following is why Pps is pinned near $3.25 until 1/15/18. Deerfield as 5% owner of Mnkd can potentially sell short to achieve this. Pps was closed at $3.26 Fri 11/3/17. Uncanny! Guess we have plenty of time to accumulate or initiate a position!
If Deerfield decides to convert on Mon 11/6/17 using avg of 3.26, 3.23, 3.01, or $3.17, or $3.25 whichever is greater. Pps will shoot up after that as they must know something and can't wait to convert at $3.25.
Low Close* Adj. close** Volume
03-Nov-2017 3.25 3.49 3.15 3.26 3.26 53,27,200
02-Nov-2017 2.94 3.35 2.78 3.23 3.23 74,67,700
01-Nov-2017 3.28 3.36 3.00 3.01 3.01 59,68,700
So, don't be too greedy if you want to accumulate!
It's my wishful thought that Deerfield will convert on Mon 11/6/17, one day before ER on Tues 11/7/17. Thus, investors may have a very small window to buy.
Dr. D was clever by waiting till Pps trending down to ink the deal. Pps on Fri 10/20 was $4.11. Then, on Mon 10/23, the deal was announced. Mon is the optimal date for him to convert lest Mnkd announces any good news between 11/7/17 and 1/15/18.
MannKind also entered into an exchange and fourth amendment to the Facility Agreement, pursuant to which $10.0 million in principal previously due on October 31, 2017 under the 9.75% Senior Convertible Notes will be deferred to January 15, 2018 (the âOctober Paymentâ), conditioned upon, among other things, MannKind depositing $10.0 million with an escrow agent, which is subject to reduction as the October Payment is satisfied through conversions to equity.
Specifically, the Facility Agreement was amended and restated to provide that Deerfield may convert principal due from time to time into an aggregate of up to 4,000,000 shares of MannKindâs common stock. The conversion price will be the greater of (i) the average of the volume weighted average price per share of the common stock for the three trading day period immediately preceding the date of any election by Deerfield to convert principal amounts and (ii) $3.25 per share, subject to adjustment under certain circumstances described in the notes. Any conversions of principal by Deerfield under the Facility Agreement will be applied first to reduce the October Payment, and after the October Payment has been satisfied, to reduce other principal payments due under the notes.
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Post by golfeveryday on Nov 4, 2017 14:07:19 GMT -5
The following is why Pps is pinned near $3.25 until 1/15/18. Deerfield as 5% owner of Mnkd can potentially sell short to achieve this. Pps was closed at $3.26 Fri 11/3/17. Uncanny! Guess we have plenty of time to accumulate or initiate a position! If Deerfield decides to convert on Mon 11/6/17 using avg of 3.26, 3.23, 3.01, or $3.17, Pps will shoot up after that as they must know something and can't wait to convert below $3.25. Low Close* Adj. close** Volume 03-Nov-2017 3.25 3.49 3.15 3.26 3.26 53,27,200 02-Nov-2017 2.94 3.35 2.78 3.23 3.23 74,67,700 01-Nov-2017 3.28 3.36 3.00 3.01 3.01 59,68,700 So, don't be greedy if you want to accumulate! It's my wishful thought that Deerfield will convert on Mon 11/6/17, one day before ER on Tues 11/7/17. Thus, investors may have a very small window to buy. Dr. D was clever by waiting till Pps trending down to ink the deal. Pps on Fri 10/20 was $4.11. Then, on Mon 10/23, the deal was announced. Mon is the optimal date for him to convert lest Mnkd announces any good news between 11/7/17 and 1/15/18. MannKind also entered into an exchange and fourth amendment to the Facility Agreement, pursuant to which $10.0 million in principal previously due on October 31, 2017 under the 9.75% Senior Convertible Notes will be deferred to January 15, 2018 (the âOctober Paymentâ), conditioned upon, among other things, MannKind depositing $10.0 million with an escrow agent, which is subject to reduction as the October Payment is satisfied through conversions to equity. Specifically, the Facility Agreement was amended and restated to provide that Deerfield may convert principal due from time to time into an aggregate of up to 4,000,000 shares of MannKindâs common stock. The conversion price will be the greater of (i) the average of the volume weighted average price per share of the common stock for the three trading day period immediately preceding the date of any election by Deerfield to convert principal amounts and (ii) $3.25 per share, subject to adjustment under certain circumstances described in the notes. Any conversions of principal by Deerfield under the Facility Agreement will be applied first to reduce the October Payment, and after the October Payment has been satisfied, to reduce other principal payments due under the notes. so the conversion price is the greater of the two options in the amendment. The 3 day weighted average or $3.25. So $3.25 is lowest conversion price. Wouldnât they take advantage of the conversion now? Sure seems like the price was brought to this range quite intentionally and held for several days. |
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Post by xanet on Nov 4, 2017 14:31:18 GMT -5
The following is why Pps is pinned near $3.25 until 1/15/18. Deerfield as 5% owner of Mnkd can potentially sell short to achieve this. Pps was closed at $3.26 Fri 11/3/17. Uncanny! Guess we have plenty of time to accumulate or initiate a position! If Deerfield decides to convert on Mon 11/6/17 using avg of 3.26, 3.23, 3.01, or $3.17, or $3.25 whichever is greater. Pps will shoot up after that as they must know something and can't wait to convert at $3.25. Low Close* Adj. close** Volume 03-Nov-2017 3.25 3.49 3.15 3.26 3.26 53,27,200 02-Nov-2017 2.94 3.35 2.78 3.23 3.23 74,67,700 01-Nov-2017 3.28 3.36 3.00 3.01 3.01 59,68,700 So, don't be too greedy if you want to accumulate! It's my wishful thought that Deerfield will convert on Mon 11/6/17, one day before ER on Tues 11/7/17. Thus, investors may have a very small window to buy. The numbers I got for volume weighted average price are: 30 Oct: $3.469 31 Oct: $3.34 1 Nov: $2.91 2 Nov: $3.23 3 Nov: $3.358 This is based on Yahoo Finance ( Yahoo Finance), so please weigh in if I am using the tool wrong or interpreting this wrong. As I noted in a previous post in this thread, the Nov 1 weighted average appears to have been pushed down hard by a large sale at the very end of the day, well below the going price, and well below the closing price. Thus, Deerfield could already have closed the deal at $3.25 because the average over three days was $3.16. |
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Post by lakers on Nov 4, 2017 14:39:35 GMT -5
IMHO, Dr. D needs to act fast as Mnkd wants Pps to go back up to $6 lest it antagonizes PIPE investor at $6 thereby making it harder for the next PIPE.
I Speculate there could be good news after Dr. D converts for the reason above.
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Post by LosingMyBullishness on Nov 4, 2017 14:44:26 GMT -5
IMHO, Dr. D needs to act fast as Mnkd wants Pps to go back up to $6 lest it antagonizes PIPE investor at $6 thereby making it harder for the next PIPE. I Speculate there could be good news after Dr. D converts for the reason above. PIPE? Btw: Is it not just scripts that hold this stock down.. beside massive manipulation from various sources only possible because of low scripts? |
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Post by lakers on Nov 4, 2017 14:53:54 GMT -5
IMHO, Dr. D needs to act fast as Mnkd wants Pps to go back up to $6 lest it antagonizes PIPE investor at $6 thereby making it harder for the next PIPE. I Speculate there could be good news after Dr. D converts for the reason above. PIPE? Btw: Is it not just scripts that hold this stock down.. beside massive manipulation from various sources only possible because of low scripts? TRx was low 400's when Pps hit $6.96 on 10/10. Street looks forward. |
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Post by LosingMyBullishness on Nov 4, 2017 15:00:56 GMT -5
PIPE? Btw: Is it not just scripts that hold this stock down.. beside massive manipulation from various sources only possible because of low scripts? TRx was low 400's when Pps hit $6.96 on 10/10. Street looks forward. Hmm. I interpreted this as a manipulation by Wainwright and MNKD to get a good price for a limited amount of stock. It was too coincidental that they sold at the right time. The price fell as Wainwright sold off again shortly after. |
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