|From: darius (Rep: 116) reply to theMagician||Date: 11/11/2012 18:15|
|Forum: Anthera Pharmaceuticals, Inc. - Msg #304||Thread #673472260 (Rec: 1) |
If ANTH already raised cash ( $42,000,000), then why would they need to enter an "At the Market" issuance with MLV & Co to raise an additional $25,000,000 ???
Twenty Five Million dollars worth of a .69/sh stock equates to share issuance of over 36,000,000 new shares, more than DOUBLING the current float.
These ATM issuances are so sketchy, and no one really knows when or how many shares MLV & Co are going to dump to the retail investor.
The news indeed came as a big negative surprise.
In my opinion, its best to just stop out of ANTH and let the toxic dilution selling drag ANTH down into the .30's or even lower.
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| Reply to theMagician - Msg #286 - 11/06/2012 12:03|
already raised cash, 42m in cash plenty, shakeout b4 run
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