Oct. 25 at 2:26 PM
$ESPR As I've said in the past. If anyone tried to buy 2m shares of ESPR on the open market for
$1.X the price would have rocketed up. Now try to buy 200m shares, It's not going to happen without sending the price into the stratosphere.
IMO the key objective to all the offerings is to get cheap shares into the market that can be distributed by "the right people".
Here's my opinion on why each offering occurred.
Dec2021 offering - Converts were put in place just one year prior to this offering with massive hedges. IMO this offering allowed those shorts and hedges to clean house from
$30 to
$7 in one year.
Mar2023 offering - As we saw, one fund made a decent amount on this offering. 66m+ (nearly all warrants) seemed to be used to pin the stock throughout 2023 and in to 2024. 9m warrants from the Dec2021 offering were amended down from
$9 to
$1.55 during this offering as well.
Continued.....
