|
Post by kc on Apr 19, 2017 15:28:57 GMT -5
1. Deerfield knows more about MNKD finances and potential than anyone outside of MNKD management. 2. Deerfield converting debt to much less secure stock equity indicates Deerfield does not believe bankruptcy is anywhere in the future. 3. Deerfield is an investment company. Step one was for MNKD to issue the recent golden parachute protections for its management team in case of a transfer of ownership. Step two was for Deerfield to convert debt to equity that now gives them upside potential they didn't have without this conversion. Step three will be the defining moment for MNKD's future. Wish I had a clue as to what Step three will be...unfortunately, no one really does. Well ... 1. Exactly true. You think they want MNKD to file BK and risk losing quite a bit on the value of their debt AND potentially have their equity stake wiped? They need to milk as much value from what they have invested as they can. 2. Converting debt to equity actually could be viewed as much more secure. Debt is sitting there without any liquidity. They are stuck holding. Getting common shares allows for immediate liquidity as those shares are readily tradable. This move really has nothing to do with Deerfield believing that common equity is safe. As Derek (another poster) mentioned, Deerfield could have already shorted a position at a higher PPS with expectation of conversion of debt. I am a smart guy. That is what I would do. Likely, Deerfield has already shorted to cover a portion of its debt position in what looks more and more like a situation whereby MannKind will not be able to pay in cash. 3. Irrelevant. Deerfield's only interest in equity is in a controlling interest in the decision-making process as things continue to unravel. They are definitely not looking at upside potential of common equity at this point. And, anyone smart that follows the big boys would know to run from this investment. You should understand that Deerfield's plan is not aligned with common retail equity stockholders. Your item 2. probably would be illegal in would find Deerfield in a courthouse 2. Converting debt to equity actually could be viewed as much more secure. Debt is sitting there without any liquidity. They are stuck holding. Getting common shares allows for immediate liquidity as those shares are readily tradable. This move really has nothing to do with Deerfield believing that common equity is safe. As Derek (another poster) mentioned, Deerfield could have already shorted a position at a higher PPS with expectation of conversion of debt. I am a smart guy. That is what I would do. Likely, Deerfield has already shorted to cover a portion of its debt position in what looks more and more like a situation whereby MannKind will not be able to pay in cash
|
|
|
Post by kc on Apr 19, 2017 13:34:02 GMT -5
Deerfield knows more about MNKD finances and potential than anyone outside of MNKD management. Deerfield converting debt to much less secure stock equity indicates Deerfield does not believe bankruptcy is anywhere in the future. Deerfield is an investment company. Step one was for MNKD to issue the recent golden parachute protections for its management team in case of a transfer of ownership. Step two was for Deerfield to convert debt to equity that now gives them upside potential they didn't have without this conversion. Step three will be the defining moment for MNKD's future. Wish I had a clue as to what Step three will be...unfortunately, no one really does. I agree with everything especially step three. Flynn can become an activist and find a buyer for MannKind who can monetize the company to be successful in marketing Afrezza.
|
|
|
Post by kc on Apr 19, 2017 13:20:21 GMT -5
Maybe he will eventually ask for a board seat and become an activist investor. You can bet that with a 5.1% interest he will want to see a return and perhaps push or help the company to make a sale. I view this all as being positive. Have to do the research on other deals Flynn has been involved in.
Deerfield Management, managed by James E. Flynn since 2000, is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. Deerfield Management oversees $3.5 billion in assets. Read more at www.insidermonkey.com/hedge-fund/deerfield+management/408/#DxSlo4jADmByZ6bp.99
Remember Flynn wants to win with MannKind...
www.fiercebiotech.com/special-report/deerfield-management
www.bloomberg.com/research/stocks/private/person.asp?personId=8002481&privcapId=3751585
Background
Mr. James Edward Flynn, also known as Jim, has been a Partner of Deerfield Management Company, L.P. since February 2000 and serves as its President. Mr. Flynn served as a Managing Director of the equity research department at ING Baring Furman Selz from 1996 to February 2000, a Vice President of Corporate Developmennt at Alpharma Inc., a pharmaceutical company, from 1993 to 1995, and a Senior Vice President of Equity Research at Kidder, Peabody & Co., an investment banking firm from 1988 to 1993. Mr. Flynn was an Equity Analyst of Kidder Peabody Group Inc., Research Division and ING Groep N.V., Research Division. He serves as a Trustee of Mount Sinai Beth Israel. He serves as a Trustee of Continuum Health Partners, Inc., Beth Israel Medical Center and St Luke's-Roosevelt Hospital Center. He serves as a Director of eCaring LLC. Mr. Flynn attended from University of Michigan in Economics, Cellular Biology and Molecular Biology
|
|
|
Post by kc on Apr 19, 2017 7:53:43 GMT -5
Looks like a dilution for me. Deerfield is leaving ship as they will either sell it directly or will lend them out for shorts. Share price will go even more south. Sorry to say, but this looks like my biggest bet I ever did blows right into my face. Would like to see MNKD survive somehow but I assume that they will firesell Afrezza to one of the major players who will store that product where no one can find it and we get nothing in the end. Hopefully they will hang on for a big pay day hopefully they know that shortly the company will be sold. Speculation on my part. But the company needs to be owned by a larger entity who will have the capital to monetize the product properly. Deerfield knows this. It's not their first rodeo.
|
|
|
Post by kc on Apr 19, 2017 7:50:52 GMT -5
Gee I get no attribution for this 👍✔️😏
|
|
|
Post by kc on Apr 17, 2017 12:52:46 GMT -5
Last year the company did have a video person record and it was posted 24 hours later. I would not count on that this year.
|
|
|
Post by kc on Apr 17, 2017 11:14:58 GMT -5
Just wanted to get a roll call of folks who are potentially attending the 2017 Shareholders meeting. I have not decided personally to attend or not due to the cost of travel from KC. Not really sure it matter anymore as we are unsure of where the company might end up by the end of 2017.
Benefit of attendance is to meet the Key management team members and to have a couple of hours chatting with other concerned shareholders. Sometimes you learn more by being there then what is in the printed material.
If I did fly I would have to drive from LGA or perhaps get a ride from LGA with another person traveling from NYC.
Anybody planning to attend?
MannKind Corporation Notice of Annual Meeting
LOGO Date: May 18, 2017 Time: 10:00 A.M. (Eastern Daylight Time) Place: MannKind Corporation, 40 Taylor Street, Danbury, CT 06810 The purpose of the Annual Meeting is to take action on the following proposals:
Proposal 1 – To elect the seven nominees named herein as directors to serve for the ensuing year and until their successors are elected;
01 Matthew J. Pfeffer 04 Michael A. Friedman, MD 07 Henry L. Nordhoff 02 James S. Shannon, MD, MRCP (UK) 05 Kent Kresa 03 Ronald J. Consiglio 06 David H. MacCallum Proposal 2 – To approve, on an advisory basis, the compensation of the named executive officers of MannKind, as disclosed in MannKind’s proxy statement for the Annual Meeting;
Proposal 3 – To indicate, on an advisory basis, the preferred frequency of stockholder advisory vote on the compensation of the named executive officers of MannKind; and
Proposal 4 – To ratify the selection by the Audit Committee of the Board of Directors of Deloitte & Touche LLP as the independent registered public accounting firm of MannKind for its fiscal year ending December 31, 2017
|
|
|
Post by kc on Apr 16, 2017 14:42:29 GMT -5
Martin Shkreli single-handedly destroyed MannKind . I hope in his trials and tribulations that the court digs into all of it. I need all the issues he is charged with her not tied to MannKind but it would be nice if a prosecutor went after it. Doubtful. Hamburg is guilty as charged and they should tie together the Mistys of her husband's company. I hope this link works but sometimes it does not. It's a 60 page document that CREW filed with the SEC in 2012. Citizens for responsibility and ethics in Washington. crew.3cdn.net/f55aefe37e78fb8d0f_z2m6b08ki.pdf
|
|
|
Post by kc on Apr 10, 2017 14:18:00 GMT -5
|
|
|
Post by kc on Apr 9, 2017 10:43:23 GMT -5
I think I heard there are better places for us to spend our money this year:-) My lips are sealed ! Interesting comment. I noticed MNKD execs options expire May 17 and the ASM on May 18. I am thinking MNKD will not have a booth. Just stretching on the dates. Enjoy this one. Lol 😉 This is a notification of the: 2017 AMGEN INC. Annual Meeting of Shareholders MEETING DATE: May 19, 2017 For Holders as of: March 20, 2017 REMEMBER.... It's just Dates. Lol.
|
|
|
Post by kc on Apr 8, 2017 19:53:01 GMT -5
I think I heard there are better places for us to spend our money this year:-) My lips are sealed ! Interesting comment. I noticed MNKD execs options expire May 17 and the ASM on May 18. I am thinking MNKD will not have a booth. I don't see where you draw the connection here. They will have a booth. In the event of being acquired the acquiring company would still need a booth. It would take at least 4 to 6 months to close a transaction.
|
|
|
Post by kc on Apr 8, 2017 12:57:08 GMT -5
Well Lakers, what you say here is plausible. I'm curious as to the timeline of all this possibly occurring? Are we talking next week, next month, June? Something has happened with that filing, but not sure exactly what. Mahalo for your post. SAME BAT CHANNEL - SAME BAT TIME.....
|
|
|
Post by kc on Apr 8, 2017 12:55:08 GMT -5
You can bet they will be there and have a booth. History shows they purchased booth space at the last minute like they did last year.
Here is the 2017 ADA convention Floor space as of 8/26/2016 www.afassanoco.com/ada/currentfloorplan.pdf
Many companies book right after the last show and many wait until the last 60 days. So don't read anything into not having a booth yet.
You can look at the floor plan and speculate on where MannKind might be space wise. Last Year they purchased in early May and ended up next to a product theater.
here is their new interactive convention floor plan : www.expocad.com/host/fx/afassanoco/17ada/default.html
I heard that in a bold break in tradition, MNKD will have a kissing booth, based on Sports' gracious offer to be "kisser in chief." So, there ought to be a lot of activity at the booth, and I think some of the other presenters are a bit concerned and may have to step up their game. Wow! I might have to register just to get one
|
|
|
Post by kc on Apr 8, 2017 11:19:43 GMT -5
You can bet they will be there and have a booth. History shows they purchased booth space at the last minute like they did last year.
Here is the 2017 ADA convention Floor space as of 8/26/2016 www.afassanoco.com/ada/currentfloorplan.pdf
Many companies book right after the last show and many wait until the last 60 days. So don't read anything into not having a booth yet.
You can look at the floor plan and speculate on where MannKind might be space wise. Last Year they purchased in early May and ended up next to a product theater.
here is their new interactive convention floor plan : www.expocad.com/host/fx/afassanoco/17ada/default.html
|
|
|
Post by kc on Apr 8, 2017 11:14:31 GMT -5
OD you are correct it's just another health fair sponsored by the ADA and all the big pharma players are there. It's all about visibility.
|
|