The timing of this Samyang sale of 160 K shares, and plans to sell up to 788 K, does look like a 'shot across the bow'. Samyang may have decided that the best chance they have to get their investment back is for Varney to sell the company. Instead they see Varney hunting around for another dilutive bridge/interim financing, so Samyang's stock sale may be a warning to Varney. That's what can happen when you have a large investor (17% stake) who is displeased. Samyang conceivably has enough ammo to force Varney to sell the company, by impeding Varney's ability to raise more money. It's very tough for Varney to sell more stock while Samyang is threatening to sell big blocks at the same time. That overhang could scare away any new investors.
Davidal, >>> Not one has come close to breaking even <<<
I think those earlier R+R and Roth PIPEs were profitable overall to the participants because their positions were hedged ahead of time, by shorting prior to the PIPE announcement to establish their exit point, and then delivering the newly registered shares to close out the short (plus the deals were priced at a discount to start with). The only thing the participants lost out on were the warrants, but those were freebies anyway.
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