That could be, although I tend to take company at face value vis a vis its avowed need for capital. Management has shown exceptional restraint regarding dilution thus far. If planned authorized share increase wasn't necessary to business plan, they would not have floated it. Top management, after all, owns a large stake in the company. I intend to vote affirmative to the motion.
In re: "company want's some anti takeover ammunition."
"The Board of Directors believes that the proposed increase in the number of shares of common stock is important to facilitate our efforts to raise additional capital to fund our research and development, to expand our commercial operations and to allow for greater flexibility in entering into possible future business combinations. The Board has proposed this increase in authorized shares of common stock to ensure that we have sufficient shares available for general corporate purposes, including, without limitation, equity financings, acquisitions, establishing strategic relationships with corporate and other partners, providing equity incentives to employees, and payments of stock dividends, stock splits or other recapitalizations.
In particular, we believe that in order to fully commercialize our product candidates and technologies, we will need additional funding in the future. This funding may be obtained through, among other alternatives, public or private issuance of equity or equity linked debt. In order to be positioned timely to take full advantage of market and other conditions suitable for equity related financings, the Board of Directors believes that we should increase the number of our authorized shares of common stock."
These are my opinions and sentiments only. Take them for what they're worth. Do your DD. Buying stocks is risky!
"If we could sell our experiences for what they cost us, we'd all be millionaires." -Abigail van Buren (a/k/a Dear Abby)
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