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Friday, May 31, 2019 2:03:37 PM
We caught wind of ILJIN's intention to change up the board a couple months ago, I believe around the time they increased their position again. My first thought is that it is likely related to VoS, given the timing. I'm now inclined to think it's more about funding moving forward. This is a quote from the shareholder letter, and it really stands out to me...
"We believe a robust balance sheet is critical to achieving our goals, and we have made significant efforts in this area the last few years"
So, maybe the disagreements are about the various funding pathways moving forward...and they don't want to be diluted anymore. Perhaps they weren't happy with the latest ATM, or maybe how/when they monetize VoS.
I would like to see ILJIN's letter to shareholders, but right now I'll stick with Aurinia and don't think a 15% shareholder should have controlling interest. The letter also states we will get more information in time, and insight to Auph's stance on these moves by ILJIN.
Recent AUPH News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 09:25:28 PM
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