GTC Biotherapeutics (fka GTCB)

[exwannabe]

"To increase the Series D authorization above 15,000 shares ..."

This "roablock" is very logical. Ths only purpose of the seies-D is to convey a BOD seat. If the limit did not exist, GTCB could have taken the seat back anytime they wished just by issuing 15,001 shared to the treasury.

I agree with you that the most logical point of the move is that LFB is willing to let GTCB give their BOD seat away in order to facilitate a deal. They might have a gentlemans agreeman to get their guy nominated back on next cycle, or they are comfortable enough working with GTCB that they don't care.

"This possibility was discussed earlier in this thread, but it’s hard to believe LFB intends to dump shares at these prices."

I actually didn't mean to imply this. What I was thinking was the remote possibility that LFB was just cleaning up their books by reducing less liquid assets (and technicaly the D might be viewed as such as there is no market, but IANAA). In todays market, this would not be an irrational corporate directive. Really was just trying to list anything I could see as a driver.

In retrospect I don't believe this to be a possibility.