Jun. 28 at 2:30 PM
$QNC
Considering the sequence of events, I am convinced there is an interested buyer for QNC. No doubt now that Susquehanna acquired their shares that Thursday evening before the AGM. The 54 mil or so aftermarket share exchange on Thursday was the tell. There is no way that Susquehanna could have bought 24M shares—even slowly— on the open market during regular market hours, since our daily volume has been way too low for that. They made a deal with a large owner/owners for those shares before the AGM. (SEC filing also implies RECENT ownership…)
Then the next day at the AGM they vote to oust our CEO and COO (almost exactly the same # of shares) in a last minute sneak attack. They obviously concluded that Francis and John ‘s views didn’t align with theirs. They either represent an interested buyer for QNC and Francis likely won’t sell now, or perhaps Francis and John are currently in negotiations for a buyout with a different buyer than the one they represent…
