Sesen Bio Inc (SESN)

[ElevenWall]

If they had to do warrants, at least they could have put them out of the money. Instead, there is a strong incentive to flip the offering shares and just free ride the warrants.

I don't like the dilution. But at least some of it will be offset by the influx of cash for the shares and warrants. What really bothers me is that it's looking like the existing base of shareholders will be completely excluded from this DEAL.

Anyone know where you can get in on the offering?

Because they get all those warrants to go with them. Basically free $1.47 long call options which will cap the share price at $1.47 until this is fully diluted. With another 40 million shares. This is a bad deal as I see it. Any big pop will get sold down hard. It is very weak that they could not raise capital without issuing warrants.
I will not be buying anymore and will sell into any strength. Management sucks in the finance department.