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DewDiligence

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DewDiligence

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Re: None

Friday, 12/13/2019 4:08:37 PM

Friday, December 13, 2019 4:08:37 PM

Post# of 7169
RVNC closed at $15.99—almost exactly the underwriter’s purchase price of $15.98 ($17.00 less 6%). The underwriter may have done some open-market buying today to (partially) cover its short position—in coordination with exercising the greenshoe option.

If the above is true—and if the underwriter got all of the covering done today—we should see a PR on the closing and greenshoe exercise no later than Monday morning.

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

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  • 1M
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