That's a very interesting perspective to consider, Corundum, that being, that an offering has to end upon management's receipt of material non-public information. It makes sense, if management is aware of negative non-public information. But in that case, management is required to announce the negative information within a few days. Also, if the non-public information is positive, then events such as the scheduled Fireside Chat, would be a good time to announce the material information, and continue the Controlled Equity Offering. So I wonder if that built-in rule distinguishes between positive and negative material news.
And then you get into classifying whether the data is positive or negative. For instance, "CytoDyn Inc () announced Monday that study results have been unblinded from the CD12 trial of its drug Vyrologix (leronlimab or PRO-140) in coronavirus (COVID-19) patients, and the company will reveal them once discussions with regulators are complete." The only money they are able to raise is by toxic debt offerings. So I assume that rule probably doesn't apply to them. Do you know if the rule only applies to equity offerings, or does it also apply to debt offerings? No need to research it, I'm just curious.
Geez, I just realized that the market opened an hour ago, and I see that we are back to trading at less than 5x the price of CYDY. Thanks for your time and for your thought-provoking post.
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