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Post by bthomas55ep on Jan 11, 2018 22:06:12 GMT -5
If I missed an earlier post, please disregard. Thx
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Post by cjm18 on Jan 11, 2018 22:35:35 GMT -5
Maybe some sort of filing?
Advertising dilution doesn’t seem like a smart move.
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Post by slugworth008 on Jan 11, 2018 22:58:33 GMT -5
If I missed an earlier post, please disregard. Thx If memory serves me correctly the note doesn't have to be satisfied until January 18 - So I would not expect to hear anything regarding this until the 18th at the earliest. IMO |
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Post by mnholdem on Jan 12, 2018 8:28:00 GMT -5
ARTICLE I.
AMENDMENTS OF FACILITY AGREEMENT AND NOTES
Upon the terms and subject to the conditions set forth in this Agreement, the Facility Agreement is hereby amended as follows:
Section 1.01. Amendment of Facility Agreement .
(a) Schedule of Payments; Deferral . The Purchasers and Obligors acknowledge and agree that Schedule 1.01(a) to this Agreement sets forth a current schedule of the aggregate principal payments due to Purchasers under the Facility Agreement (without giving effect to this Agreement). Notwithstanding anything to the contrary contained in the Facility Agreement (including Section 2.3 thereof) or the Notes, but subject to Article VI of this Agreement, the $10,000,000 in principal amount of the Tranche 4 Notes (“ October 2017 Tranche 4 Principal Payment ”) due and payable on October 31, 2017 shall be deferred to, and be due and payable on, January 15, 2018.
Source: investors.mannkindcorp.com/secfiling.cfm?filingID=1193125-17-316062&CIK=899460 (See Exhibit 99.1)
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Post by casualinvestor on Jan 12, 2018 8:53:09 GMT -5
It's not due until the 15th, and I think it would be in MNKD's best interest to publish when the market is closed (including monday), not today. Any reasonable renegotiation would be worse than the current deal, due to much lower PPS. Paying 10M cash will bring the runway back into focus, also not good.
We'll see whether this all is already priced in by the market.
The only good way to announce is to pair it with actual good news
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Post by traderdennis on Jan 12, 2018 15:57:50 GMT -5
I would not be surprised if they announce after the close today. Three days before the next trading day.
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Post by timri on Jan 12, 2018 16:02:22 GMT -5
It's not due until the 15th, and I think it would be in MNKD's best interest to publish when the market is closed (including monday), not today. Any reasonable renegotiation would be worse than the current deal, due to much lower PPS. Paying 10M cash will bring the runway back into focus, also not good. We'll see whether this all is already priced in by the market. The only good way to announce is to pair it with actual good news I was under the impression that 3.25 was the floor price. Where did it say they would be able to renegotiate? |
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Post by xanet on Jan 12, 2018 16:12:43 GMT -5
It's not due until the 15th, and I think it would be in MNKD's best interest to publish when the market is closed (including monday), not today. Any reasonable renegotiation would be worse than the current deal, due to much lower PPS. Paying 10M cash will bring the runway back into focus, also not good. We'll see whether this all is already priced in by the market. The only good way to announce is to pair it with actual good news I was under the impression that 3.25 was the floor price. Where did it say they would be able to renegotiate? $3.25 was the floor if Deerfield decided to convert the 10M owed into shares. Deerfield can also ask for cash, or can renegotiate. They were never under any obligation to convert the 10M debt into shares. |
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Post by alethea on Jan 12, 2018 16:45:34 GMT -5
Whatever happened to that increased transparency we were promised shortly after the Sanofi debacle?
So much for that. Not a friggin word since end of October. Retail longs left hanging on the hook since the $60 million at the end of October without one word of guidance or even encouragement since.
I suspect the Deerfield resolution next week will NOT be good. Won't be surprised to see the stock price dip to or below $2.
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Post by timri on Jan 12, 2018 16:48:00 GMT -5
I was under the impression that 3.25 was the floor price. Where did it say they would be able to renegotiate? $3.25 was the floor if Deerfield decided to convert the 10M owed into shares. Deerfield can also ask for cash, or can renegotiate. They were never under any obligation to convert the 10M debt into shares. Thanks for clarification. So we could say if they take the shares or delay the payment it would be bullish. If they take the cash watch out below ? |
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Post by timri on Jan 12, 2018 16:50:22 GMT -5
Whatever happened to that increased transparency we were promised shortly after the Sanofi debacle? So much for that. Not a friggin word since end of October. Retail longs left hanging on the hook since the $60 million at the end of October without one word of guidance or even encouragement since. I suspect the Deerfield resolution next week will NOT be good. Won't be surprised to see the stock price dip to or below $2. Part of me thinks we are priced in for bad news. Anything remotely good and we move up. Next week will be interesting with all the options expiring. Need to refill my Valium order. |
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Post by mannmade on Jan 12, 2018 18:02:04 GMT -5
Personally I will be happy with either the note 1.) being pushed back for another quarter, or 2.) Mnkd paying the $10m.
Obviously if the note is pushed back, then no harm/no foul. If mnkd pays the $10m, while shorts may see this as a lack of confidence by Deerfield and therefore say it is a negative event, I see it as a positive event and sign of strength by mnkd that they believe they are on the right path moving forward and have hence refused to lower the price and renegotiate the buy-out terms (which is the third and least favorable option in my opinion.)
Paying Deerfield the $10m really should be no burden on cash as mnkd is mostly out of cash regardless by end of March or so and they can just add another $10m to the cash raise we all know is coming.
GLTAL's!!!!
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Post by sportsrancho on Jan 12, 2018 18:07:18 GMT -5
Exactly:-)
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Post by dreamboatcruise on Jan 12, 2018 18:25:54 GMT -5
Personally I will be happy with either the note 1.) being pushed back for another quarter, or 2.) Mnkd paying the $10m. Obviously if the note is pushed back, then no harm/no foul. If mnkd pays the $10m, while shorts may see this as a lack of confidence by Deerfield and therefore say it is a negative event, I see it as a positive event and sign of strength by mnkd that they believe they are on the right path moving forward and have hence refused to lower the price and renegotiate the buy-out terms (which is the third and least favorable option in my opinion.) Paying Deerfield the $10m really should be no burden on cash as mnkd is mostly out of cash regardless by end of March or so and they can just add another $10m to the cash raise we all know is coming. GLTAL's!!!! Agree with the first portion, though it certainly has an impact on cash flow and pulls forward the time when financing would need to occur and right now the market isn't in a very receptive mood towards MNKD. But if management chooses that route (assuming that Deerfield would be willing to take discount shares, which I don't see why they wouldn't) it would seem to mean they feel our share price will be in better shape even within a shortened window due to the cash draw down. |
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Post by traderdennis on Jan 12, 2018 18:39:59 GMT -5
Personally I will be happy with either the note 1.) being pushed back for another quarter, or 2.) Mnkd paying the $10m. Obviously if the note is pushed back, then no harm/no foul. If mnkd pays the $10m, while shorts may see this as a lack of confidence by Deerfield and therefore say it is a negative event, I see it as a positive event and sign of strength by mnkd that they believe they are on the right path moving forward and have hence refused to lower the price and renegotiate the buy-out terms (which is the third and least favorable option in my opinion.) Paying Deerfield the $10m really should be no burden on cash as mnkd is mostly out of cash regardless by end of March or so and they can just add another $10m to the cash raise we all know is coming. GLTAL's!!!! Agree with the first portion, though it certainly has an impact on cash flow and pulls forward the time when financing would need to occur and right now the market isn't in a very receptive mood towards MNKD. But if management chooses that route (assuming that Deerfield would be willing to take discount shares, which I don't see why they wouldn't) it would seem to mean they feel our share price will be in better shape even within a shortened window due to the cash draw down. DBC, how much of the original 160 Million has MNKD paid off? investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=792120 |
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