Biotech Values

[wallstarb]

I may stand corrected - it's not a direct placement? It's open to anyone who wants to subscribe? How can shareholders such as the ones on this message board get the shares @ $10.75 on Monday?

Serious question - if its really open then I am wrong - I thought this was just going to select institutional investors. If it's open to the public then it's a secondary offering and not a PIPE.

A secondary is any offering which is PUBLIC and comes after the IPO. It doesn't imply who is selling - but many times it can be insiders - but that is NOT implied by a secondary. It's known as a dillutive or non-dillutive (where insiders are selling) secondary. Follow-on offering is another term for the same thing ie synonyms but it has the connotation of coming in a short period of time after the initial IPO. You wouldnt refer to a secondary 6 years after the IPO as a follow-on. Most often it implies it's the over allotment to the syndicate after the IPO.