ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Just noticed that when Biosante led by Simes did their reverse split in June of 2012. They took down the authorized shares from 200 million to 33.33 million, as well. Very odd for a company trying to survive. This is very small for the pharma industry. Often the reverse split only applies to the outstanding shares. When the reverse split on 2013 occurred after the merger with ANI, only the outstanding shares were affected. As of Q1 release over 64% of the authorized shares have been issued.

Even though ANIP is an acquisition company, it looks like the merger between ANIP and Biosante was forged with the intent of it being sold and by keeping a low share volume, it is easier to maintain a controlling interest.

Any increase in authorized shares requires shareholder approval. No one will authorize this unless there a deal on the table that is compelling to investors.

If Anip is not being bought out within the next 3 to 5 years, I see ANIP using cash to buy back shares to be used for larger deals in the future.

JMHO