Sep. 13 at 9:47 AM
$CADL There are two short-term options regarding the share price:
- That PBM attempts to raise the share price in order to execute the warrants before November 13.
- Or that large shareholders and institutions keep the share price very low to prevent PBM from exercising the warrants.
All of this may have been agreed upon in advance, which is why the
$15 million offer was made weeks ago. PBM, Fidelity, the CEO, and other Candel directors accepted the offer at a price of
$4.67, with the intention of not diluting the more than 6 million warrants that PBM would be entitled to exercise if certain prices are reached or a purchase offer is made by a BP.
We will soon know the planned strategy, so stay tuned!
