@Michele Your post reads..
“I feel that we been kept in a trading range of $4 to $5 on purpose.”
That is exactly right, and kept in that range on purpose to keep KERX’s market cap in a range for a proposed “merger swindle” which was planned a while ago, in order words, by design — IMO.
But here’s the absolutely compounding “criminal” part of it all — IMO. Even with KERX’s manipulated artificial and by design market cap at $540M (haha), as per the “cooked-up” pro forma which takes KERX O/S of 120M multiplied by $4.48 closing price on 6/27/2018 day before proposed “merger swindle” announcement (haha)— even with KERX’s market cap at $540M and AKBA’s market cap at $590M (and this without considering Baupost conv. notes of 35.6M at $4.63 conv. price or addtl. KERX equity of $165M) — in order words, with KERX at $705M valuation vs AKBA’s $590M, from where do these “mafiosos” come-up with a conversion ratio of .37433 which makes it nearly the equivalent of 3 KERX shares for 1 AKBA share.? Oh right, AKBA has $400M is cash (haha). Oh really, and what are some 97M shares wiped-out with conversion ratio worth!
Not to mention, the difference between KERX’s science asset Auryxia approved in U.S. and EU, well into commercialization in U.S. — versus AKBA’s science asset still in clinicals, another $100s of millions needed to be invested to finish clinicals, years away from commercialization, and with a competing drug which will potentially be brought market 1-2 years prior because you have just recently delayed finishing clinical data read, also with strong clinical results, possibly a superior drug to yours. And to add insult to injury, at the other side of the transaction, KERX shareholders would face 100% dilution with their converted MERGED AKBA shares.
That is like if you had $1 million and I had $1 million, and in order to buy off your $1 million at the cheap (steal), I converted your $1 million to $373 thousand, then borrowed $373 thousand to add to my $1 million, proposed to merge you with my now $1.373 million, told you that in exchange for your $373 thousand I’d give you the equivalent to 50.6% of my $1.373 million in shares. (50.6% being the BS KERX ownership of “cooked-up” pro forma). So after you being wiped-out $657 thousand of your $1 million, in addition, you would have to deal with the $373 thousand in debt as part of the $1.373 million merged enterprise, which I borrowed to make you believe that your $373 million remaining is being compensated.
Michele, the “merger” is the swindle of all swindles, designed to purposely “hijack” 62.57% of your KERX holdings and “hijack” KERX the company and Auryxia its technology.
This monumental swindle will be fought off if insisted upon.
ALL above, in my opinion, as always..
