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DewDiligence

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Re: marthambles post# 227417

Thursday, 12/05/2019 5:57:29 PM

Thursday, December 05, 2019 5:57:29 PM

Post# of 257560

Can RVNC close its $17 offering when the stock is under $16?

It’s up to the underwriters to close the deal, and they’re allowed to “stabilize” (i.e. manipulate) the share price for that purpose. Page S-15 of RVNC’s offering prospectus (https://www.sec.gov/Archives/edgar/data/1479290/000119312519306287/d842236d424b5.htm ) details the various market actions the underwriters are permitted to take. (All of this is industry-standard.)

Busted financing deals involving well-known underwriters do happen, but not very often.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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