ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Big Bambino, the previous Shelf Registration was for $250 million and a Secondary Offering where "selling stockholders"s could sell up to 3,500,000 shares. I find it interesting that this one does not have a Secondary Offering like they did in the earlier Shelf Registration of May 14, 2014.

Since MVP Capital Partners owned 2,819,745 shares at the time of the merger was the largest shareholder of the potential "selling stockholders" and still owns 2,350,559 shares, it appears a large number of secondary offering shares have been left on the shelf or are in the process of being transferred. As understand it, they don't have to report a sale until the transaction is closed and all shares have been transferred. Something to watch for.

Nay 14,2014 Registration

Note: If ANI does make an offer to issue shares, it triggers the clause in the Sr Note Offering of $143.5 Million that allows for an adjustment in the share distribution per $1,000 of notes.