Replies to post #189403 on Biotech Values

[DewDiligence]

TRIL—I assume the relevant holder(s) really want to stay anonymous, which is interesting in and of itself.

Everyone knows the preferred buyer is Baker Brothers, so there’s no anonymity.

It was a bad decision by TRIL, IMO, to allow such shenanigans to go on. The 61-day notice period in the preferred registration (thanks for the citation) is a clear violation of the intent, albeit not the letter, of SEC regulations concerning Form-13G filing requirements. At a time when TRIL ought to be making its case to a wider group of small and medium-sized investors, it has instead acquiesced to the wishes of a large shareholder using a gimmick to circumvent SEC regulations.

[rkrw]

It would allow someone to sell anonymously. Bypassing 13D requirements that any trade be reported.