Think some are shortsighted and don’t realize extent of potential machinations. Read me out...(figures rounded, calculations may vary a little).
From Jan. 2014 (Baupost initial purchase) to date, KERX O/S from 90M to 160M shares fully converted, some 70M shares issued. But get this, ALL PLACED WITH BAUPOST with exception of some +/- 13 million shares, allowing for proceeds of some $550 million spent to bring company and Auryxia to TURN-KEY READY status — i.e. clinicals, FDA/EU approvals, all groundwork, payor coverage, marketing/sales, offices, execs, EVERYTHING!!!
Baupost financing nearly ALL $550 million is potentially VERY TELLING — potentially telling that “a plan”, by design, might in fact have been put in place 4+ years ago with Baupost as one of or THE principal “architect”, THE Big Kahuna behind KER,since Jan. 2014. Think about it, why has Baupost been the SOLE OUTFIT financing KERX since Jan. 2014? — and why Baupost as SOLE OUTFIT precisely following Director Daniel Regan, ex Sanofi/Genzyme, who joined KERX as Director end of 2013, followed by Madison ex Sanofi/Genzyme.
(Will get back to 70 million share issuance and $550 million spent as it relates to KERX/AKBA merger
and .3743 conversion ratio swindle).
Now, who brought Butler to KERX as BOD Chairman in Dec. 2015? — yep, you guessed it, Baupost. And Butler? — yep, you guessed it, ex Sanofi/Genzyme. (Btw, Director Mark Enyedy ex Sanofi/Genzyme, John Neylan ex Sanofi/Genzyme, Brian Adams ex Sanofi/Genzyme). So, here’s a question — why so many ex- Sanofi/Genzyme’s at KERX? Will get back to this.
So, Baupost brings Butler to KERX as BOD Chairman in Dec. 2015. In June 2017, 1 1/2 years later, Butler signs with Vifor Fresenius (VF), then 4 months later, in Oct. 2017, Butler resigns as KERX BOD Chairman. The following month, Black Tuesday, Nov. 7, 2017, IDA approval coincides exactly with day of 3Q2017 results cc with BS guidance withdrawal and BS failure to meet RAISED guidance from prior 2Q2017 cc — an already artificially depressed pps gets shot down further from $6s to $4s, then held “hostage”, all coinciding with tax loss selling, etc. But guess what, Butler wasn’t there, no longer Chairman, had resigned a month prior — so no blame on Butler, clean as a whistle vis a vis what transpired on Black Tuesday and what has transpired since (ahem ahem ahem). Some 5 months later following Black Tuesday, on April 30, 2018, Madison suddenly and abruptly resigns, NO explanation. Couple months later, following Madison’s sudden/abrupt/no explanation exit, Butler re-surfaces out of nowhere with AKBA merger. CMON! folks, sequence of events raises too many questions, TOO MANY RED FLAGS— this seems ALL calculated, “a plan”, by design, a scheme, dating back YEARS, IMO.
So, back to ex Sanofi/Genzyme Directors/execs at KERX, why so many? Is it because of their prior expertise in Sanofi’s renal franchise? — can’t be, ZERO results. Was it to sorta lead us to believe a Sanofi play in cards all along, for YEARS? Yet Butler, signed with VF? OR, is Sanofi the real suitor behind (replace Renvela, re-enginner its renal franchise) and somehow the AKBA/VF agreement will be superseded i.e. an “out clause” — Butler made an offer he couldn’t refuse?
who resigned from KERX, then Madison resigns — then Butler, out of “nowhere”, re-surfaces with AKBA merger??? (remember, Butler Baupost’s guy since BOD Chaiman 11/2 year ago).
So you have ex Sanofi/Genzyme execs/Directors at KERX, Butler in and out of KERX as BOD Chairman, Fresenius attempts to shoot down IDA approval, begs the question —all a decoy to lure us into thinking Sanofi play when all along it was really a Vifor Fresenius play — OR??
Let’s think about this. Why did Butler resign after 1 1/2 years as Chairman BOD? This was just 8 months ago (like Madison, suddenly and with no explanation given) and, months prior to resignation, Butler signs with VF leading to believe that something went sour — either between Butler and Madison or with Sanofi since VF a fierce competitor of Sanofi in renal. Why was Madison’s sudden resignation followed by Butler merger couple months later? Here’s what I’m getting at — ALL seems orchestrated, and Madison “payed to play”, millions, and other ex Sanofi/Genzyme i.e. Director Regan doing well for 41/2 years, Neylan doing well, Adams did well — i.e. hefty compensation/free stock/stock options.
Now, back to 70M shares issued since Jan. 2014, taking KERX to 160M O/S, generating proceeds of some $550 million which has been employed to take KERX to turn-key ready status — as it relates to KERX/AKBA merger and .3743 conversion ratio representing a SWINDLE for the history books. So, here’s the “a plan”, by design, put in place some 4+ years go, hypothetical.
Folks!!! — KERX driven to 160M O/S over 4-year period with proceeds of some $550 million to pay taking company/Auryxia to turn-key ready status as we speak. During same period, AKBA driven to only 57M million O/S. Now, via merger machination, , they “disappear”/SWINDLE some 100M KERX shares (62.5% of 160M O/S) thru .3743 criminal conversion ratio, leaving 60M KERX shares (37.5%) to be exchanged for 60M AKBA shares sort of speak. So AKBA issues 60M shares bringing AKBA’s O/S to 117M shares PLUS additional free shares awarded in transaction to Baupost etc. In transaction, YOU, ME, all OTHER common investors get swindled out of 62.5% of our shares, AND, we have yet to make a dime. KERX “crooks”, also get their holdings reduced by 62.5% — BUT, the “crooks”, have 4 1/2 years of massive short profits under their crooked belts, potentially, having recouped their investment, riding free shares, and maybe even in the green.
MIND YOU, our company and its first-in-class blockbuster potential drug Auryxia get gobbled-up, “stolen”, by simply issuing 60M AKBA shares, an ALL PAPER transaction, just paper folks, not a single $1 paid. Yes, AKBA O/S increases from $57M to 117M million plus but, SO WHAT, the “crooks” from both companies, potentially in collusion dating back years, have played and will continue to play short via AKBA and make another killing on the long side when all is said and done — i.e. merged company gets acquired by Big Pharma.
Now, here’s the kicker, hypothetically. AKBA driven to 117M O/S plus with proposed merger, while RMTI sits at, take a guess, check it out, only 52M O/S. So, next up, how bout a merger transaction, with a similar criminal conversion ratio, between merged KERX/AKBA and RMTI? Btw, the merged KERX/AKBA company will operate under the name Akebia, you know, disappear the KERX name and company completely and bury all the crookery of the past.
Folks, the hypothetical has been on target all along, only change, SEEMINGLY, Sanofi became VF, or did it? — and hypo called for a KERX/RMTI merger in May-June 2018, well it happened, but with AKBA — but, as mentioned, RMTI most definitely in the cards.
Bottom line, we are being swindled out of 62.5% of out KERX holdings via a proposed merger. Folks, that represents 100M shares as a company, vanished — AGAIN, that’s 100M shares which equate to 62.5% of $550 million in proceeds ($344 million) that was used to develop the company and Auryxia to turn-key ready status. $344 million “stolen” via a ALL paper transaction, that’s all it is. And the 100M shares worth way more than just $344 million if you value thise shares at minimum $10/share which is what they’re worth — that’s $1 BILLION, vanished. A heist of epic proportions.
FOLKS!!! — this is not right. Common shareholders need to fight andvput-up resistance to this monumental heist by raising their voices, coming together and seeking legal advice/counsel, going to the press, bringing-in a shareholder protection advocacy organization, contacting representives/Senators, whatever it takes.
Again, THIS IS NOT RIGHT! Many unsuspecting investors and their monies their monies invested in this company are and have used and abused for YEARS — as a result of bamboozling potential criminal behaviour, and now, a proposed merger intends to steal 62.5% of shareholder holdings. AND, as it turns out, Auryxia an award winning blockbuster potential drug compound with pristine clinical results and a multi-billion addressable market.
This is unfknbelievable!
@Michelle Yes, looking at Weiss Law as an option. We need legal advice/counsel from an outfit with heavy “muscles”.
ALL ABOVE, IN MY OPINION, AS ALWAYS — HYPOTHETICAL
AI
