MannKind Corp. (MNKD)

[Hypi]

There is no rights offering coming, but rather a big investor. Matt was always a temporary CEO and that was stated in previous conversations. Mike C was brought in for this reason and Matt will still participate in the stock.

Change of ownership clause still applies to Matt, if you read it throughly. Actual statement (or prior to, but in anticipation of, a change of control of the Company), shows ANTICIPATION OF.

When a company is acquired many times they remove the CEO prior to completion of the transaction. Mike C would then become President of the division (think AMGN). Matt walks away with his shares and will be given a nice severance package as well.