RE:The dreadful deal I'm no expert on raising money so I take what the level headed (if fuming), experienced guys say.
It seems this deal fits the pattern of a small, desparate, provincial, Canadian biotech despately failing to be taken seriously by the big serious US-based biotech ecosystem. This deal basically re-confirms what Theratech are. Maybe they don't get to eat from the banqueting table, maybe they just get the fallen crumbs.
SPCEO1 wrote: I thought I would share this comment from a friend of another major THTX shareholder I know. His friend is a portfolio manager at a major firm in the US:
My PM friend from (I removed the firm's name) ( he manages 5 billion 4 time all star ) called me today. After a quick “ look see “ yesterday didn’t see anything good about the deal. Today he called and said he devoted an hour last night studying everything and said “ therf gave away the farm when they didn’t have too and they royally screwed existing shareholders when they didn’t have too “
He said as promising as the company looks he would probably avoid it bc of this incredibly poor deal they put together. I couldn’t answer him when he said they had a shot to play in the big leagues and deal with piper / Raymond James / etc. they ran back to Canada. He can’t figure that out and asked why even bother to be on the nasdaq if you don’t want to play with the big boys ?
He asked if something could have gone wrong that I don’t know about bc it looks to him like a panicked / rushed / too good to be true deal. I told him I wasn’t aware of anything that panicked the leadership. He was gobsmacked they haven’t reached out to major shareholders