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DewDiligence

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DewDiligence

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Re: None

Friday, 05/26/2017 11:51:47 AM

Friday, May 26, 2017 11:51:47 AM

Post# of 251621
ZYME IPO has rare partial exercise of underwriter’s option:

https://finance.yahoo.com/news/zymeworks-announces-partial-exercise-over-115900269.html

At the 5/3/17 IPO, 4.5M shares were issued @$13.00 (https://finance.yahoo.com/news/zymeworks-announces-closing-initial-public-131600990.html ), but only 58% of the shares in the 675K-share underwriter’s option were exercised.

Looking at the price history, it’s pretty clear that the underwriter was (legally) supporting the stock at the IPO price, but they eventually gave up.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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