GTC Biotherapeutics (fka GTCB)

[wjlknew]

<GTC originally sought $20M (gross) from the February financing, but this does not necessarily imply that they will seek to get the “other” $14M ASAP.>

Moreover, the recent placement apparently prohibits further dilution until after May 12th ... 90 days following the Feb 12th closing. From 8-K:

"4.12 Subsequent Equity Sales .

(a) From the date hereof until 90 days after the Closing Date, neither the Company nor the Subsidiary shall issue shares of Common Stock or Common Stock Equivalents; provided, however, that such period shall be reduced to 45 days after the Closing Date if on any Trading Day thereafter the last sale price of the Company’s Common Stock during normal trading hours, as reported, is at least $0.90 per share. Notwithstanding anything to the contrary, the applicable restriction period set forth in this Section 4.12(a) shall be extended for the number of Trading Days during such period in which trading in the Common Stock is suspended by any Trading Market."