Delcath Systems Inc (DCTH)

[Gator328]

Not a bad idea.

When I spoke to Jenny a while ago, I found her to be responsive to my concerns (this was when DCTH was trading around .02).

I got the impression that she is open to selling the company, she even went so far as to mention that with medical devices the offers usually come in post-approval, but I also got the impression she is not inclined to enter any negotiations with her hands tied behind her back. I can't say that I blame her.

Shareholders here are facing two bad choices: either vote yes and the stock gets hammered down, or vote no and the stock ends up getting sold or liquidated for pennies of what its worth. I don't think in a BK scenario the creditors end up taking the company, but shareholders still might not walk away with a full recovery...these things are a bit of a crapshoot.

The way I see it, at least with a RS, you live to see another day. Whatever happens to the share price is only temporary. The stock could be trading down 95% after the RS, and if an offer comes in, it can jump 500% in a day. Happens all the time. The value of the assets to a third party isn't going to necessarily correlate to the value the market puts on the stock price before an acquisition. This is why most acquisitions tend to be at a substantial premium (see: MSFT buying LinkedIn for 2x the share price)