Vericel Corp. (VCEL)

[commoncentsinvestor]

I believe you are referring to the filing back in June that gave Cowen the right to sell up to $25M worth of VCEL shares. I cannot find any evidence that any new shares were issued or sold by Cowen.

On June 30, 2016 Outstanding shares were 22,684M.

On September 30 Outstanding shares were 22,744M.

So clearly, nothing much happened during that 3 month period.

The share count today is about 30M. But that increase was all due to the 7M shares in the recent offering through Piper Jaffrey in December.

So I just don't see what you are referring to when claiming that Cowen is causing a huge dilution. Can you explain further?