Sep. 18 at 9:22 PM
$STTK The stock has been pumped up so institutional investors can dump on the heads of retail investors (i.e. future bag holders).
From the S-3, these investors will be selling 100% of their shares (including shares obtained after exercise of warrants): Orbimed Advisors (36,879,576 shares), Baker Bros.(17,415,356 shares), Coastlands Capital Partners (11,524,868 shares), Entities Affiliated with NEXTBio (7,683,244 shares).
Other investors will be selling a large percentage of their shares (including shares obtained after exercise of warrants): Redmile Group (selling 8,195,460 of 16,948,943 shares), Prosight Management (selling 9,732,110 of 16,510,563 shares), Adage Capital Partners (selling 8,707,678 of 13,382,678 shares), etc.
Exercise of warrants will increase share count by around 188% while bringing in little cash (
$57 million).
