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Post by boytroy88 on Apr 6, 2018 1:00:55 GMT -5
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Post by boytroy88 on Apr 6, 2018 1:01:16 GMT -5
Please tell me this is a good thing.....
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Post by sexychefski on Apr 6, 2018 1:02:35 GMT -5
Is it good news that it was announced on a Thursday night? Is this priced in?
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Post by babaoriley on Apr 6, 2018 1:14:46 GMT -5
Not a good price as far as I'm concerned, but a good price for the "select healthcare dedicated institutional investors" - geez. The offering calculates the current share price at $2 less what the warrant is worth. Warrant's only good for six months, but with a strike of $2.38 (happens to be today's closing price), I'd give it .20 to .30 of value. What do others think that warrant may be worth? So, if it's worth .25, that means the dedicated ones got the stock at around $1.75. Will that stock be used to cover a previous short position? I don't know, but likely. Oh, well, I guess you only get one chance to sell at $6!! As far as this offering being price in? Don't think so, but, who knows, maybe the company will have a great script count tomorrow, or perhaps they will announce great news, or perhaps you'll look up an you'll see a pig or two fly by - any of those things might happen tomorrow, so keep a very watchful eye on the sky, it's likely to be more pleasant than watching a computer screen tomorrow! PS - so glad I took a look at the board right before calling it a night - you know, it's like a glass of warm milk!  PPS - okay, Holdem, so your team didn't have all the incentive it might have, but you gotta say, Brownie had a heck of a game! |
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Post by bundy on Apr 6, 2018 1:48:28 GMT -5
Odd time to issue a release lol. Hope they just trying to get enough capital to get the next deal figured out.
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Post by straightly on Apr 6, 2018 2:29:12 GMT -5
Odd time to issue a release lol. Hope they just trying to get enough capital to get the next deal figured out. It sucks big time. |
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Post by awesomo on Apr 6, 2018 2:38:17 GMT -5
Ugh, between this and the market crashing tomorrow because of Trumpy's tariffs, it's going to one bloody day.
As for releasing news, you usually release shitty news Thursday or Friday night. I'm trying to find any silver lining here, and I can't find it. See you under $2.00 tomorrow...
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Post by akemp3000 on Apr 6, 2018 2:54:01 GMT -5
Shouldn't a more representative title of the thread be 14 million shares direct offering? The proceeds net $26.3M. This certainly isn't a big surprise to buy a little more time for events to unfold. Mike said he would do this as needed. He also said scripts should begin rising soon and has indicated partnerships are coming. Can't see this as being big news but we'll see how the market reacts.
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Post by awesomo on Apr 6, 2018 2:56:48 GMT -5
Shouldn't a more representative title of the thread be 14 million shares direct offering? The proceeds net $26.3M. This certainly isn't a big surprise to buy a little more time for events to unfold. Mike said he would do this as needed. He also said scripts should begin rising soon and has indicated partnerships are coming. Can't see this as being big news but we'll see how the market reacts. Anytime you do a direct offering like this, the PPS goes below the offering price and will continue to be pressured down. We're losing 20+% tomorrow, probably push it closer to 30%. |
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Post by #NoMoreNeedles on Apr 6, 2018 3:01:00 GMT -5
HCW sacrificed at $6 to save company, now even at current market price. Do the math!
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Post by kc on Apr 6, 2018 4:13:43 GMT -5
Being over 58 you wake up in the middle the night because of needing some relief you find news like this announcement. I guess the company needed to buy some more time. Seems like they could do the $6.00 deal this time. I have to agree with the comments above that being announced pre-market Friday it will not have a positive effect trading today.
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Post by peppy on Apr 6, 2018 5:30:05 GMT -5
WESTLAKE VILLAGE, Calif., April 06, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD) today announced the pricing of a registered direct offering of 14,000,000 shares of common stock and warrants to purchase up to an aggregate of 14,000,000 shares of common stock to select healthcare dedicated institutional investors. Each share of common stock is being sold together with a warrant to purchase one share of common stock for a combined purchase price of $2.00, resulting in gross proceeds of $28.0 million. The warrants will be exercisable at a price of $2.38 per share beginning six months following the date of issuance and will expire six months thereafter. The shares of common stock and the warrants will be immediately separable and will be issued separately. The offering is expected to close on or about April 10, 2018, subject to customary closing conditions. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. After deducting the placement agent's fees and estimated offering expenses, the net proceeds to MannKind are expected to be approximately $26.3 million. MannKind intends to use the net proceeds from the offering for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses, sales and marketing expenses, general and administrative expenses, and other expenses associated with the commercialization of Afrezza®, any other product candidate MannKind develops and MannKind’s Technosphere® drug delivery platform. The securities are being sold pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) and declared effective on April 27, 2016. A final prospectus supplement related to the offering will be filed with the SEC, and will be available on the SEC's website located at www.sec.gov and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 4th Floor, New York, New York 10022, by calling (646) 975-6996 or emailing placements@hcwco.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About MannKind |
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Post by winner on Apr 6, 2018 5:32:25 GMT -5
Disappointed. How many millions of shares traded at ~ $2.50. For reasons unknown, MNKD could not entice somebody to participate in a PP at ~$2.50. All is not well in my humble opinion.
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Post by hellodolly on Apr 6, 2018 5:55:23 GMT -5
The plan is being executed and the cash is being raised. The consequences of anything less are not benign but, patently obvious. There is nothing wrong with the offering at this price point, so long as the end game is to get keep the doors open and get more value into your hands. The game plan is to do this again at the next highest available price point, over and over until this team get's MNKD to profitability. I don't have a business degree but, it doesn't take a degree to have some common sense and see what 'end game' objectives are in place to reach the goal. Today, I don't give a crap how the market responds and neither should you. I sleep well at night, you should, too. GLTA and Happy Friday!
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Post by sportsrancho on Apr 6, 2018 6:07:46 GMT -5
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