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jeal..."did it pay for itself" ?....id say at the current moment in time....yes..the hedges paid off....1 year ago ..NO....2 years from now WTFknows...
I listened to the IDCC presentation that Mr. Chen did at The Roth Conference this afternoon. It was an audio only presentation and is available for replay. The video compression has a lot of potential but Leren was vague as to when that could hit the bottom line and I can understand why. I did not pick up any other new information.
“In the end, will it have made money for the company?”
No, looks like a big waste of time and cash to me. It also doesn’t look like it was needed to buy back the stock either. The company already appears to have had enough cash of their own to do that. It also probably facilitated a lot of the short sales. If this was done to facilitate a bunch of dilution like some guys on here want to believe then why are they bothering to buy shares back if all they really want to do is dilute shares. Do they just like buying shares back at prices higher than they sold them at?
There will be no dilution unless the warrants finish in the money. The converted notes and exercised calls cancel each other out. Look at the chart in the 10k. It’s plain as day.
jeal...the whole trade was constructed around hedging out dilution from conversion when the stock price moves beyond the stated conversion price on the notes....since the price of the stock is well beyond the stated conversion price at this point....im sure the trade was created with this scenario in mind if early conversion occurred....and can be "deconstructed" in a orderly manner....which we might have seen some of already
I really don’t understand the purpose of these moves. I thought that the company had borrowed the money for expansion or acquisitions. In the end, will it have made money for the company?
If the 2027 notes were converted around the $102 range then IDCC would owe the note holders about 1.4 million shares, after paying the $460 million principal back, but would turn around and get the same number of shares back by exercising the call options. The warrants are not in the money currently. I don’t know what it would cost IDCC to buy them back. I doubt IDCC wants those warrants sitting out there for 3 more years after the notes and calls are settled. I don’t really know when the warrants are supposed to expire though or if the expiration would be affected by converting the notes early.
The rest of the 2024 notes would involve about 350,000 shares doing the same swap at that same share price. The 2024 warrants, being currently out of the money, will expire sometime in the next 3-5 months or so if not repurchased by IDCC.
vegas...im gonna stick with the theory that it involves the converts....the options that idc holds as part of the antidultion hedge....are privately written by a third party....and are not exchanged traded....and could have been part of this transaction....remember....the converts are actually being converted by the holders....at much lower prices....its very interesting trying to track all the moving parts of the convert transaction
Gamco, the toll that old age is taking isn't a problem, I usually forget sometime during each day just how bad it is.
Good luck.
teecee56, The price was $102.59 for 1.397M shares, 1.403 M shares , 51K shares and a bunch of smaller trades. It was off exchange so it could be anything. The share price is lower than the conversion. It is also possible that the company bought them as they did almost 2 years ago from a hedge fund.
badgerkid - Thank you. I see now that I misposted the dates also. Old age is taking a toll!
Vegas, I'm with Teecee, is there any indication of the share price on all of those trades?
Thanks.
Gamco, thanks. I did report those numbers on this board on 3/11. Here's the quick guide to reporting dates for short interest:
https://www.nasdaqtrader.com/trader.aspx?id=shortintpubsch
For example, 3/15 short interest totals will be available for viewing on 3/26.
vegas ..was ther a price on that report?
that has to have something to do with the converts as far as im concerned...what is total amount of converts?
Triple witching was an active share day.
As of 2/29, IDCC short interest is 4.9 M, up from 4.52 M on 2/15
2.95M shares were reported to the ADF as off exchange trades.
Today's volume almost 3.6M shares.....
Doesn’t make much sense for IDCC to be buying now. Would only cause the warrants to be in the money more which kinda defeats the purpose of the buyback don’t you think.
Where is that buyback program? Unbelievable that they have brought the price back down to where we were before blowout earnings and updated guidance.
Summary provided by Co-pilot:
Certainly! Here’s a summary of the court order:
Title: Order on Motion to Dismiss for Failure to State a Claim and Order on Motion to Strike
Context: The court considered plaintiffs’ motion to dismiss. As a general rule, an amended pleading supersedes the original and renders it legally ineffective. Defendants Lenovo (United States) Inc. and Motorola Mobility filed amended answer and counterclaims after plaintiffs’ motion. The court denied the motion as moot. However, if plaintiffs file a renewed motion to dismiss regarding count III of amended counterclaims, the parties may rely on their prior briefs instead of refiling them1.
Summary provided by Gemini (previously Google Assistant):
The court order denies the plaintiff's motion to dismiss because the defendants filed amended pleadings that render the motion irrelevant. The order also allows the plaintiff to re-file a motion to dismiss a specific count in the amended counterclaims, with simplified briefing procedures.
So what does this mean? any lawyers that might e able to shed light of are we now out of luck?
That's why the lawyers make so much, they can figure 6 ways to Sunday to confuse you
InterDigital, Inc. et al v. Lenovo (United States) Inc.et al
Order on Motion to Dismiss for Failure to State a Claim Order on Motion to Strike
TEXT ORDER - This matter comes now before the court upon plaintiffs' motion to dismiss. DE 34 . As a general rule, "an amended pleading ordinarily supersedes the original and renders it of no legal effect." Young v. City of Mount Ranier, 238 F.3d 567, 573 (4th Cir. 2001) (internal quotations omitted); see also 6 Charles Alan Wright, et al., Fed. Prac. & Proc. § 1476 (3d ed. 1998) ("A pleading that has been amended under Rule 15(a) supersedes the pleading it modifies and remains in effect throughout the action unless it subsequently is modified.... Once an amended pleading is interposed, the original pleading no longer performs any function in the case"). Where defendants Lenovo (United States) Inc. and Motorola Mobility filed amended answer and counterclaims to plaintiffs' second amended complaint after plaintiffs filed the instant motion, said motion, DE 34 , is DENIED as MOOT. However, in the event plaintiffs' file a renewed motion to dismiss regarding count III of amended counterclaims, the parties may file a joint notice stating that they rely upon their prior briefs in lieu of refiling briefs, and the renewed motion will be submitted upon filing of such joint notice. Signed by District Judge Louise Wood Flanagan on 3/13/2024. (Collins, S)
I didn’t see where they said the 2027 notes were getting paid off, just said that they could be redeemed because of the stock price hitting the required level. Do you know something I don’t? I haven’t checked, but the price has probably been over the required level this quarter also so notes should be redeemable next quarter also. I don’t know that it is to the note holders advantage to redeem them early though. If they shorted the stock, which is common with convertible notes, then they could be getting 3.5% interest on $460 million without having much, if any, cash output.
I would hope that they are done with this debt crap after they pay off the 2027 notes. I don’t see where it did IDCC any good to have this debt and they would have had more cash on the books afterwards without it.
jealmc79 - Is it fair to say that after the current bond redemption at the end of March and the remainder of the previous bond issue maturing at the beginning of June, that InterDigital would have zero debt on the books? Unless they entered into some type of new indebtedness. TIA
If the warrants are set up like they were in 2016 they will expire in daily tranches over a three month period. I believe there was some shorting going on associated with the notes/calls/warrants and I don’t see many of those warrants expiring out of the money. Go back and see what happened in 2016.
Gamco it would be nice if U-blox were to sign the license.
U-Blox should sign a license and terminate their litigation soon. JMHO
Jealmc79, what do you think will happen? Thanks.
Short interest is now at 4.9 million shares on Feb 29, up from 4.5 million on Feb 15.
That should have you thinking.
The warrants become in the money over $109.43. The calls and notes will cancel each other out after IDCC pays back the $126.2 million principal in cash. Will be interesting to see what the stock price does after the notes and calls expire with the warrants still hanging out there for another 3 months or so.
Rest of 2024 Notes expiring June 1. Warrants after that.
Interdigital to Speak at the 36th Annual Roth Conference
Source: GlobeNewswire Inc.
InterDigital, Inc. (Nasdaq: IDCC), a mobile, video and AI technology research and development company, today announced that the company will be participating in a fireside chat at the 36th Annual Roth Conference on Monday, March 18th, 2024, at 6:00 PM ET.
The event will be webcast live, and an archived replay of the presentation will be available following the conference at the Investors page of the InterDigital website at www.interdigital.com. Register to attend the live webcast here.
About InterDigital®
InterDigital is a global research and development company focused primarily on wireless, video, artificial intelligence (“AI”), and related technologies. We design and develop foundational technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. We license our innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles, and providers of cloud-based services such as video streaming. As a leader in wireless technology, our engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G and today’s most advanced Wi-Fi technologies. We are also a leader in video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
investor.relations@interdigital.com
+1 (302) 300-1857
It is awful quiet in here. So here are a few things coming in the or to distant future. For me, hopefully, before the end of the 2nd to 3rd quarter.
Oppo, VIVO and Realme to pay for past infringement per Indian court trial.
Samsung rate arbitration decision to rendered by arb panel.
UK appeals court to issue rate decision issued by lower court favoring Lenovo’s seemingly low rate. Decision in IDCC favor will establish a higher Frand decision.
These are the things that come to me on the top of my mind. Please add to list as you may see fit.
Monterey thanks. The following is from another site discussing apple sales.
What they say about Huawei is significant.
“
Apple’s iPhone sales in the world’s second largest economy, which are critical to its global revenues, nosedived 24% in the first six weeks of 2024, according to a new report from Counterpoint Research. But over that same period, China’s tech giant Huawei saw its sales surge 64%”
Huawei is not renewed...From the latest 10-K for the fiscal year ended December 31, 2023
Does anyone know if the Huawei license renewed at the end of 2023. The following paragraph is from an article dated April 28, 2020. If accurate Huawei license expired at end of December 2023.
“(Reuters) - InterDigital Inc, a developer of digital mobile and video technology, said on Tuesday it has entered a worldwide patent licensing agreement with China's Huawei Technologies Ltd, and that the companies have settled all litigation against each other.
Shares of InterDigital rose as much as 19.2%.
In a regulatory filing, InterDigital said the licensing agreement runs through 2023, and covers royalties from the sale of some of Huawei's 3G, 4G and 5G wireless telecommunications products.
Did someone previously post that the optimal price point to pay off the notes is $106?
TC, Sammdogg...I intended to come but having two cataracts taken care and too much going on with our 5 kinds and 18 grandkids all who live with in 15 minutes travel time! Hope to catch the next one.
Emil
InterDigital’s Atle Monrad Elected Chair of 3GPP’s SA6 Working Group
Company Release - 3/5/2024
WILMINGTON, Del., March 05, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video and AI technology research and development company, announced the election of Atle Monrad to serve as Chair of 3GPP’s Service and Systems Aspects Working Group 6 (SA6).
Within the 3GPP standards-setting organization, the SA6 working group is responsible for critical communication, service frameworks and application enablement for vertical markets. The SA6 working group determines architecture requirements, functional architecture, procedures, information flows, interworking with non-3GPP application layer solutions, and deployment models, as appropriate for different 3GPP verticals. Delegates from major 3GPP member companies and public safety companies voted to elect Atle Monrad to serve a two-year term as SA6 Chair.
“We congratulate Atle on his election to Chair the 3GPP SA6 Working Group, which is no doubt a reflection of his expertise and the respect he has earned over his more than 35 years of industry influence,” said Rajesh Pankaj, CTO, InterDigital. “We’re confident that under Atle’s leadership, this group will shape the important criteria that enables more verticals and markets to leverage the capabilities of our mobile networks.”
Atle began attending 3GPP meetings in 2001 and is a well-respected 3GPP contributor with a long history of leadership positions, including serving two terms as 3GPP CT Plenary Chair, and five terms as CT1 Chair. Within his long career, Atle has also worked in standardization of the cellular systems including 5G, LTE, UMTS and, GSM.
Israt - It appears that you are correct about Stockcharts eliminating their free offer of point & figure charts. I enjoyed that feature and used it for several decades. It looks like you now need to be a paid member to have access. If anyone finds a free version, please post a link. Thanks in advance.
Another charting approach that I have enjoyed in the past was "Stock Seasonality". The brokerage firm of Scott and Stringfellow used to offer it, but I no longer have access. If anyone finds a link to a free version of it, please post.
This is off topic. It appears Stockcharts has changed their format. The one feature I enjoyed was their breakout and reversal projections. I believe IDCC was 180 last time I looked; however it appears this feature is now gone or I simply can't find it. Gamco you helped me last time finding this feature. Anyone out there know if it still exist. Also any concern the Nasdaq has taken off and IDCC really has not moved.
israt
This is dated November 7, 2023 but I don't remember seeing it posted.
..............
Exclusive: InterDigital launches first China office with Dolby hire
Sukanya Sarkar
November 07, 2023
The US technology firm has set up shop in Beijing and appointed a former senior counsel at Dolby to lead its licensing operations in China
https://www.managingip.com/article/2cf6reg61xbm7emjdgjk0/exclusive-interdigital-launches-first-china-office-with-dolby-hire
stick around vegas...your input is highly valued....this sh8t is about to get intertesting!!
Some funds rebalancing, a short capitulating, a new position? Thoughts?
Welcome back Vegas.
ok boys...the games on...da shortz...shorted into a million share day on feb 1.....my best guess was they were raising a little bit of the white flag....they didnt...there was big buyers that day...if i was one of their soldiers...id be looking for a way out....this aint no easy target w/ a P/E of 15 ...and an about to be increased dividend
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