|
|
Post by sportsrancho on Nov 11, 2017 9:12:07 GMT -5
Yes, from the words of Marvin Gaye, let’s get it on. I don’t think this was what Marvin had in mind 😂😂 Great Artist, even better song, just not enough grit for our Mannkind Git r done song. Agree with Derek, let’s do this My girlfriend and her husband got married on a 3 story boat. The ski light deck dedicated to dancing. After the ceremony she sat him down in a chair... picked up a mic ...and sang, “Let’s Get It On” It was quite the performance:-) |
|
|
|
Post by rockstarrick on Nov 11, 2017 9:13:01 GMT -5
can’t imagine The mann group and Deerfield would even allow the vote to happen if it was not already a forgone conclusion as to a ‘yes’ outcome. Yes, I just wanted to see what other options DBC had in mind, a no vote leaves this dog on a pretty short chain again. I now have shares in 3 different accounts, I’ll be voting yes on all 3 And now that I think about it, the lizard usually responds to just about anything pretty quick, he/she must have me blocked. hmm GO MANNKIND 🇺🇸 |
|
|
|
Post by brotherm1 on Nov 11, 2017 9:17:11 GMT -5
Yes, from the words of Marvin Gaye, let’s get it on. I don’t think this was what Marvin had in mind 😂😂 Great Artist, even better song, just not enough grit for our Mannkind Git r done song. Agree with Derek, let’s do this Good point. Not enough grit. “Let’s roll !” Todd Beamer Flight 93 09/11/2001 |
|
|
|
Post by pantaloons on Nov 11, 2017 9:53:03 GMT -5
The way I interpret the request for 140M authorized shares is basically this: MNKD is asking shareholders to trust them. The quantity of shares is of some concern, but the much greater question is at what PPS they'll sell those shares and what will be happening in the meanwhile.
Anyone have any guesses as to how long (years) these authorized shares should last and at what PPS's they'll be sold and when (i.e., after which material events)? This is, indeed, the absolute, most essential aspect of executing these shares.
|
|
|
|
Post by centralcoastinvestor on Nov 11, 2017 10:09:29 GMT -5
Something else came to mind as I was thinking about the new shares. Mike C. and MannKind need to prove they are serious about going it alone if they ever hope to be equals at the bargaining table for partnerships, buy ins or international deals. In other words, the new shares show that sharesholders and executive management believe that we can go it alone and will do so if offers are crap. Mike needs to be able to look across the table in negotiations and say we are walking away from this if you don't give us a serious offer. Recapitalizing the company means having enough unused shares to raise capital in the future if necessary. I'll be voting yes.
|
|
|
|
Post by sportsrancho on Nov 11, 2017 10:24:57 GMT -5
Something else came to mind as I was thinking about the new shares. Mike C. and MannKind need to prove they are serious about going it alone if they ever hope to be equals at the bargaining table for partnerships, buy ins or international deals. In other words, the new shares show that sharesholders and executive management believe that we can go it alone and will do so if offers are crap. Mike needs to be able to look across the table in negotiations and say we are walking away from this if you don't give us a serious offer. Recapitalizing the company means having enough unused shares to raise capital in the future if necessary. I'll be voting yes. You nailed it! I believe that most of transaction has to do with this. |
|
|
|
Post by akemp3000 on Nov 11, 2017 10:52:04 GMT -5
I agree CCI that this is a very long-term, big picture play necessary for going it alone whereby they sit on most of these shares and have them when and if needed down the road. IMO, they may use some small amount in the near-term but really won't need more as the runway has already been extended and the scripts can be expected to finally jump following the label change and start of DTC advertising. Throw in a few new international deals and pipeline progress and the balance of these shares may never be touched...until something REALLY big happens!
|
|
|
|
Post by gamblerjag on Nov 11, 2017 11:24:16 GMT -5
Something else came to mind as I was thinking about the new shares. Mike C. and MannKind need to prove they are serious about going it alone if they ever hope to be equals at the bargaining table for partnerships, buy ins or international deals. In other words, the new shares show that sharesholders and executive management believe that we can go it alone and will do so if offers are crap. Mike needs to be able to look across the table in negotiations and say we are walking away from this if you don't give us a serious offer. Recapitalizing the company means having enough unused shares to raise capital in the future if necessary. I'll be voting yes. agree but then I've always been in the camp that they were going to go it alone even when things were dire |
|
|
|
Post by golfeveryday on Nov 11, 2017 11:47:48 GMT -5
can’t imagine The mann group and Deerfield would even allow the vote to happen if it was not already a forgone conclusion as to a ‘yes’ outcome. Yes, I just wanted to see what other options DBC had in mind, a no vote leaves this dog on a pretty short chain again. I now have shares in 3 different accounts, I’ll be voting yes on all 3 i will be voting ‘yes’ in 2 accounts. |
|
|
|
Post by lb on Nov 12, 2017 17:11:27 GMT -5
Speaking of other companies' examples of increasing the number of authorized shares by more than 100%, here is an excerpt of MGTI proxy materials for the upcoming shareholders' vote:
...To authorize the Board of Directors, without further action of the stockholders, to amend the Company’s Restated Certificate of Incorporation to increase the Company’s authorized common stock (“Common Stock”) from 75,000,000 shares to 200,000,000 shares...
Here we go. MGTI is McAfee's bitcoin mining company that will be profitable by next quarter. I guess they just want to multiply upon what works, like buying even more mining rigs. In case of MNKD, on the other hand, no one knows when it will be profitable, if at all.
|
|
|
|
Post by falconquest on Nov 12, 2017 21:03:47 GMT -5
Speaking of other companies' examples of increasing the number of authorized shares by more than 100%, here is an excerpt of MGTI proxy materials for the upcoming shareholders' vote: ...To authorize the Board of Directors, without further action of the stockholders, to amend the Company’s Restated Certificate of Incorporation to increase the Company’s authorized common stock (“Common Stock”) from 75,000,000 shares to 200,000,000 shares... Here we go. MGTI is McAfee's bitcoin mining company that will be profitable by next quarter. I guess they just want to multiply upon what works, like buying even more mining rigs. In case of MNKD, on the other hand, no one knows when it will be profitable, if at all. Your argument begs the question.....what is the growth comparison between MGTI and Mannkind? If MGTI is undergoing exponential growth and more capital is needed to sustain or enhance that growth then one could argue it's justification. All things are not necessarily equal. |
|
|
|
Post by me on Nov 13, 2017 10:07:55 GMT -5
Speaking of other companies' examples of increasing the number of authorized shares by more than 100%, here is an excerpt of MGTI proxy materials for the upcoming shareholders' vote: ...To authorize the Board of Directors, without further action of the stockholders, to amend the Company’s Restated Certificate of Incorporation to increase the Company’s authorized common stock (“Common Stock”) from 75,000,000 shares to 200,000,000 shares... Here we go. MGTI is McAfee's bitcoin mining company that will be profitable by next quarter. I guess they just want to multiply upon what works, like buying even more mining rigs. In case of MNKD, on the other hand, no one knows when it will be profitable, if at all. Your argument begs the question.....what is the growth comparison between MGTI and Mannkind? If MGTI is undergoing exponential growth and more capital is needed to sustain or enhance that growth then one could argue it's justification. All things are not necessarily equal. I don't think lb is arguing anything. I think he's just responding to the ongoing question of whether a publicly-traded company (there was no other qualification in the original question) ever requested a doubling of authorized shares. Additionally, I think it is fairly standard for publicly-traded companies to have an issued to authorized ratio of 50% to 65%. The fault here, I guess, is that MNKD never should have gotten this close to 100% issued. But then again, imagine dbc's palpitations if they had tried this before the last capital raise! |
|
|
|
Post by matt on Nov 13, 2017 10:57:11 GMT -5
A good reasons for doubling the shares is the legal hurdles that have to be dealt with to get approval. Delaware requires an absolute majority of the shares issued and outstanding to increase the number of authorized shares or for certain other actions (like a reverse split), but only board action for others (such as forward splits). Because many shareholders don't read the proxy carefully, they simply don't bother to vote which is essentially the same as a no vote given the way the votes have to be counted, although this is less likely if the Mann Group shares vote yes. Still, if the vote does not pass on the first try they will adjourn the meeting and hire a proxy solicitor until the company has gathered enough yes votes to proceed. That is both time consuming and expensive so a lot of corporate lawyers advise to have far more shares available than what is really required. The mood is fairly upbeat at the moment, so this is a good time to do it.
|
|
|
|
Post by dreamboatcruise on Nov 13, 2017 12:23:56 GMT -5
Something else came to mind as I was thinking about the new shares. Mike C. and MannKind need to prove they are serious about going it alone if they ever hope to be equals at the bargaining table for partnerships, buy ins or international deals. In other words, the new shares show that sharesholders and executive management believe that we can go it alone and will do so if offers are crap. Mike needs to be able to look across the table in negotiations and say we are walking away from this if you don't give us a serious offer. Recapitalizing the company means having enough unused shares to raise capital in the future if necessary. I'll be voting yes. No, that is not what recapitalizing means. Recapitalizing is actually raising money. Authorizing shares does not magically mean there are buyers for all those shares. To the extent it means anything about management's beliefs, it would be that they feel they might need massive dilution in order to survive... though given that they have not communicated clearly about this, one is only left guessing as to their beliefs and intent. |
|
|
|
Post by falconquest on Nov 13, 2017 18:18:58 GMT -5
Your argument begs the question.....what is the growth comparison between MGTI and Mannkind? If MGTI is undergoing exponential growth and more capital is needed to sustain or enhance that growth then one could argue it's justification. All things are not necessarily equal. I don't think lb is arguing anything. I think he's just responding to the ongoing question of whether a publicly-traded company (there was no other qualification in the original question) ever requested a doubling of authorized shares. Additionally, I think it is fairly standard for publicly-traded companies to have an issued to authorized ratio of 50% to 65%. The fault here, I guess, is that MNKD never should have gotten this close to 100% issued. But then again, imagine dbc's palpitations if they had tried this before the last capital raise! Not argument in terms of confrontation but as a form of discourse. Here is the definition..... noun: argumentation; plural noun: argumentations
the action or process of reasoning systematically in support of an idea, action, or theory. |
|
