RE:Castlelake sold 3,700,000 NCU SharesCastlelake selling has been the source of much of the downward pressurs on the share price.
Why they are selling we do not know. They still hold 8 percent of the shares.
I would guess they need liquidity for their other businesses.
No other big holder has been selling to our knowledge.
Pala keeps loaning more capital, which will convert to shares at a price agreed to with the board.
Many have feared a takeover by Pala. It has been argued by one informative poster that they do not have the capital to pay off all the loans as would be required for a takeover, not to mention buying out all the other shareholders, which include groups such as Blackrock. It is cheaper for them to keep funding the marginal capital requirements until the cash starts flowing from Cu sales.