Post by
retiredcf on Aug 07, 2023 9:41am
Dutch Auction
It seems that some investors have forgotten about this.
The company is offering to buy not more than $40M worth of shares (15,810,276) for not less than $2.53 and not more than $2.65 until 30 Aug. Not only is it a strong indication from the company that the shares are undervalued, unless you have an immediate need for the cash, why would anyone sell their shares below $2.53? GLTA
Comment by
campst on Aug 08, 2023 7:42pm
one reason woild be that the share price is likely range bound for the rest of the month. One could sell and use the money on another earnings season bet, knowing that the ILLM shares could be repurchased for roughly the same amount before the 30th.