Why did these two shareholders reduce their positions in the company so significantly as part of the April 30th, 2020 SEC registration? Not a short, just wanting to understand.
I am not denying that Cytodyn Inc. itself was able to raise funds because when the warrants are exercised, at the $0.50 share price, those shareholders then pay the company the warrant price.
But after they executed the warrants, ALL the shareholders reduced their position in the company. If they really thought this was going to the moon, why not hold the shares?
Cool Blue Capital and Iliad Research and Trading are solely in business to profit from equity trades! Yet they don't even think this is going to go higher than $3.25 a share?
Cool Blue Capital had 21,245,875 shares before the filing and after the filing only owns 606,250. Why did they reduce their position by 97%? Cool Blue Capital only exercised 4,835,625 warrants but registered 15,804,000 common stock to sell.
Iliad Research and Trading LP had 8,800,000 before the filing and after the filing only owns 2,500,000 shares? A 72% reduction. Iliad didn't even exercise any warrants. They registered to sell 6,300,000 common stock shares.
These two shareholders represent a reduction of north of 26 million shares. If they thought it was a sure bet to go above 4.00 even, why not earn the additional $26 million in profit and hold the shares?
Thomas C. Mollick reduced his by 4,500,000 and 64%. He only exercised 2,500,000 warrants and sold 2,000,000 shares.
Every single major shareholder reduced their position. These three were by far the largest reductions.
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