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Re: beachlifeisfun post# 59814

Wednesday, 04/27/2016 12:45:35 PM

Wednesday, April 27, 2016 12:45:35 PM

Post# of 700688
The other interesting part of the recent financing is that someone was willing to purchase/wanted shares and warrants for shares of up to 17.64 million shares.

5.88 million shares
2.94 warrants for shares
5.88 million shares over allotment
2.94 warrants for shares

17.64 million shares on the line to an "Existing institutional investor"

I am of the impression that that means a short vulture hedge fund who wants to close down, or the option to close down their position in the most structured way possible.

Shorts clearly don't want to buy on the open market, as that would cut into their profits. Imagine if some wanted to buy 17 million shares (or 12 million according to the short interest per the Nasdaq website last I checked) in the open market, where do you think the price would go?
Volume:
Day Range:
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Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
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