Hi maulers.
I have no problem criticising management. But I think it is only fair to do so regarding things that are factual.
You say:
"I wonder why the immediate need for 50 Million Dollars at the yearly LOW was necessary."
That is not a true statement. The secondary was done at $2.75. The yearly low was $2.03 and the 12 month low was $1.76. So the cash raise was done substantially higher. And, they raised $20M not $50M. Should they have waited? Could it have been done at a higher price? Who knows. But that is speculation and not fact.
You also say: "ATM printing of shares is killing this company."
There is no factual information regarding how many ATM shares have been sold, if any have been sold at all, or if so at what price. If some had been sold BEFORE the FDA approval, I would have no problem with that. If ATM shares have been sold AFTER the approval and the secondary, then I would also be critical, but neither you nor I have that information so why don't we wait and see.
Then you say:
"Come on VCEL management, get off your Arses and justify the massive dilution to the owners of the company - YOUR SHAREHOLDERS! "
First of all, I would not call the $20M cash raise massive and I think it was smart to do so when they needed the cash to properly bring MACI to market. You know those dozens of reps they are hiring, it takes money. And the staff to train ortho's takes money. There are substantial expenses whenever a company brings a new product to market. Secondly, I would rather management say nothing at all then issue some puff promotional pumping piece just to satisfy impatient shareholders.
Finally you say:
"Just venting... Sorry to post my extreme disappointment at VCEL's "SILENT" Management!"
I know. But let's give them a chance. FDA approval is only a month old. For now I am willing to abide by what Cramer said:
"If you have conviction about a company, and the story has plenty of catalysts, and the management is terrific and non-promotional … then good things can happen, often much sooner than you would expect"
