Finjan Holdings Inc (FNJN)

[lbcb123]

It amazes me that nobody caught on to this yet. The post I am replying to:

"2 million shares changed hands! 12:10 est"

Now what happened on 06/23?

06/23/2017 3.6 4.06 3.6 3.8 2,567,780

More importantly, what was announced on 06/26?

Finjan Announces Public Offering of Common Shares

B. Riley was obviously in possession of nonpublic information that they were going to be underwriters in a public share offering. There was a 2M share short on 06/23 on the day the stock hit $4.06. At the end of the very next trading day the public offering was announced which, of course, tanked the price:

06/27/2017 3.24 3.29 3.149 3.24 1,808,769
06/26/2017 3.8 3.995 3.6 3.62 951,780

Notice on the 26th before the offering was announced that (short) selling continued taking the price down further.

Then on 6/27: "has priced its underwritten registered public offering of 3.6 million shares of its common stock at $3.15".

"The offering is expected to close on June 30, 2017, subject to customary closing conditions."

Are you following it? B. Riley shorted at least 2M shares and probably much more well above the $3.15 offering price. The offering closed on 06/30 and they promptly used those shares to cover the entire short. The short position was closed before the end of the reporting period and never showed up on a short interest report and nobody was the wiser.

You were TAKEN!