Ayala Pharmaceuticals Inc (ADXS)

[ignatiusrielly35]

Jefferies did not place 10 million shares with retail. They went to tutes. Now, if the tutes delivered a lot of them to cover then obviously they will not report those shares in a 13f. The rest of the shares will show up in the next number, spread out amongst tutes such that none had to file immediately. Meaning no one tute purchased at least 2.5 shares (5% of the OS). It’s not that complicated.