Replies to post #19037 on GTC Biotherapeutics (fka GTCB)

[vinmantoo]

Dew,

I wasn't saying that DNA and Roche connection was identical to LFB-GTCB. I was pointing out that LFB can't make any offer they like and force GTCB shareholders to accept. LFB can make any offer they like but GTCB shareholders would have to vote on it. You act as if becoming majority shareholder gives you dictatorial powers to do anything you want and any time. If so, why didn't LFB simply force GTCB to accept $0.10 a share or even $0.01 a share for the entire 200 million available shares? If LFB could force the GTCB shareholders to lose their shares, why didn't they just make an offer for $0.10 a share and immediately takeover the company?

You are posting as if LFB is going to destroy GTCB when they stand to profit sooner by making it work. I would bet LFB can do a far better job making the latter happen than current GTCB management.

[Biowatch]

"GTC’s minority shareholders have no such contractual protection."

That's part of the distinction between "preferred" and "common" stock, right? I noticed in the PR that LFB gets preferred stock, not common, which puts them at the head of the line to garner benefits should GTC go under. In the meanwhile, they get paid a 10% dividend??? Please tell me where I can get such a good guaranteed income these days...

The bridge debt will automatically convert into convertible preferred stock upon shareholder approval. The convertible preferred stock will carry a 10% dividend over 5 years...

Disclaimer: I've sold my GTCBD, at a loss, alas.