Spectrum Pharmaceutecals Inc (SPPI)

[antihama]

Yesterday's amended SCHEDULE 13D/A for Raj is positive for us shareholders I would think. It appears that in Raj going from from 8,912,140 beneficially owned shares to 6,179,794 shares, a significant percentage of that change had to do with forfeited shares of Common Stock. Per yesterday's SCHEDULE 13D/A

Dr. Shrotriya’s beneficial ownership has decreased to 6,179,794 shares of Common Stock from 8,912,140 shares of Common Stock reported in the prior amendment filed on September 29, 2017. His beneficial ownership expressed as a percentage of issued and outstanding shares of Common Stock has decreased by more than one percent (1%) from the prior amendment primarily as a result of a net exercise of stock options whereby Dr. Shrotriya forfeited shares of Common Stock subject to the stock options to cover the exercise price and the taxes otherwise due.

He still owns a significant chunk of shares though at 5.9%.

I'm no good in figuring this stuff out but that seems plain enough. What's more of a stumper is that the Sept 25th SCHEDULE 13D/A indicated there were 93,937,040 shares outstanding. And per yesterday's form indicated we now have 102,335,540 shares outstanding or an increase of 8.4M shares. But from the transcript of the 3Q 2017 CC I would think we'd have increased by ~19M shares not 8.4M.

During the third quarter, we raised a $114 million due to the sale of 12.6 million shares [~$9.05/sh] utilizing our at-the-market security offering program. We ended the quarter with $248 million in cash and cash equivalents versus $139 million at June 30.
Subsequent to the end of the quarter, we issued 1 million shares for net proceeds of approximately $14 million [~$14/sh] of our ATM. Also subsequent to the end of the quarter, we entered into agreements with a few of our convertible bondholders and exchange approximately $69.5 million in aggregate principal of bonds for approximately 5.4 million newly issued shares of stock plus $26.7 million cash. Following these and other exchanges, we have reduced our debt from $120 million down to approximately $40.5 million.

Brackets are my notations. Net net is I got a lot to learn why we don't have 121M shares outstanding.