Quote BS LOL, "Are other bidders in the wings? OCAT now has massive success in the science and an offer on the table with the market willing to pay more than the offered price."
WHAT???????? LOL !!!
Actually OCATA has had very little "success" with their ole supposed "science"- only managing to complete ONE very, very small phase I trial in 10 plus yrs, LOL !! AND, they did that at a cost of over 1/3 of a $BILLION in sunk and lost capital. Hardly a "success" story??????? They have NO REVENUES and no prospect of any revenues for YEARS, IF EVER per their own duly filed SEC documents. They're looking at year 2020 or beyond for a remote chance at their first ever salable product and any potential revenues, 4 to 5 YEARS from now, and still $100's of MILLIONS more in capital needed to get there.
Operating margin: -13,801.35%
Return on assets: -344.54%
Operating cash flow: -24.14M
(and that cash flow burner/smoking number is only getting worse if they actually run the promised phase II trial(s) plural, let alone, ever even actually get ONE of them started and moving ahead)
Yeah, them other supposed buyers will be tripping over themselves to get at a money pit sink hole like that, LOL!! Fantastic. What did the OCAT SEC filing say- they approached on key candidate they "thought" might be interested and were told (paraphrasing), "NO THANKS, pre-revenue companies don't fit our needs or business model". Aka NO MONEY PIT DILUTION MACHINES ALLOWED AT OUR FIRM, LOL!! Right on.
Read the $8.50 per share buy-out tender SEC filings. THERE WERE NO OTHER OFFERS (except ONE, which OCATA mgt and BOD deemed risky and weak) - and they tried to find ANY OTHER OFFERS (using world class Jeffries) and they got panned in the market place, NO-JOY, NO THANKS, NO OTHER OFFERS. Very similar to how their big $62 million secondary crashed and burned and failed in a huge way, only about 6 months ago.
THOSE ARE THE FACTS. There is ZERO indication of any other company interested in buying OCATA. The company has been "in play" for quite some time and no one made an offer other than Astellas. Simple as that.
The tender is moving forward, full steam ahead at $8.50 a share and there is zero indication anything is impeding it or stopping it from moving forward to a close at this point. Both company's Sr mgt and BOD are 100% on board with the deal and want is to close ASAP.
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
