Replies to post #35088 on Intellipharmaceutics International Inc. (IPCI)

[doogdilinger]

I wonder if UBS just participated in another offering...as it's really the only thing that makes sense as to how they abruptly ended up with 7M shares.

If so then we'll be seeing another financing filed by IPCI within 48 hours

[Samsa]

Mopar, what you posted is exactly how they just acquired the 7 million shares.


UBS AG (a wholly owned subsidiary) has delegated portions of its performance obligations with respect to the Auction Rate Securities Rights to certain clients and pursuant to which the securities reported herein have been purchased from such clients.

So clearly, they bought the shares from clients using their UBS AG services. now whose those clients are, we have no clue. Maybe someone like Sabby who held 1.1 million shares and no longer do. how did they get rid of that many shares without effecting the share price?

clearly there was a bunch of clients who they purchased the shares from. I really could care less as long as they hold the shares and take them out of the float! LOL