Amarin Corp Plc (AMRN)

[bogatie]

I think there are two good reasons to be salty (and if you check my history, you'll see I am a long for the last 6 years, although I rarely post.)

My biggest gripe is the discount to market. The prospectus date last trade was 21.74. 18 per share is a huge discount to that. Had it been 19.5 to 20 I would have been less aggrieved. The discount for the underwriters risk was far too great. 10% might have been a little more palatable.

Next is the timing. Perhaps GS and JP Morgan said "do it now" before FDA announcement as we aren't interested when the market price is higher and reflects less risk - which means their clients potentially don't profit as much. But, had Amarin waited to see, perhaps 30 share price post FDA approval, they could have commanded a better price and floated less shares.

My thinking is that Amarin wanted GS and JP Morgan now. If there were to be a buyout or need for more financing, these two firms are now in Amarin's corner.

It just sucks to be on the sideline while bankers / brokers get to make far more and take far less risk.

Last thought is that Amarin must have sold GS and JP Morgan a pretty good story about communication with FDA. If this doesn't not get label expansion, those two firms will have really shafted some big clients.