Theralase Technologies Inc. V.TLT

Warrants and options expiring

[2b7f6fab]

239 million shares outstanding,
  87 million warrants outstanding,  67 million warrants expire in Aug/Sep
  18 million options outstanding, 10 million expire in September
334 million fully diluted.

If anyone was planning a hostile takeover would it be smart to wait for these to expire?
The great Bencro used to say they don't do hostile takeovers in this industry.

[13X2413]

I guess with 22,000 shares traded today, curing mouse cancer doesn't interest the investing public. 

[Lesalpes29]

This post has been removed in accordance with Community Policy

[Lesalpes29]

My last post is for 13Xdumdum.

[tdon1229]

Lesalpes29, Maybe you could take it to PM....

[menoalittle]

Smart to wait for warrant expiration? mmmm... not necessarily.  Might depend on whether an offer would be enticing enough to result in a majority of those holding warrants to exercise them and then vote those shares in favor of the takeover.

[menoalittle]

Obviously (or at least, what I think would be obvious), any hostile bid (if there were to be one) is not going to be stupid cheap, or no one will vote for it.  

[chry200030]

Yes, nothing under $10 a share... 

[menoalittle]

LOL... nice to dream about.  But a small fraction of that would undoubtedly draw many millions of votes out of the woodwork in a proxy fight!

[2b7f6fab]

My comment about Bencro was tonque in cheek,  Anyways, if a party was interested in acquiring the technology for say $1 billion, then fully diluted would receive approx $3/sh or if after September $4/sh. I'm just not sure how we get out of this low share price trap.  BTD still seems months away :(

[StevenBirch]

Why have we seen mutiple deals by big pharma that take stocks from $2-3 to $25-30, multi billion $ deals, but when it comes to TLT we are going to get bought cheap? It's way too early to put a valuation on this stock and does anyone think that Roger has painstakingly done these many small PPs just to give the company away at the first sign of interest? How do we know he hasn't had an offer

[menoalittle]

>> when it comes to TL we are going to get bought cheap?  A hostile takeover bid is precisely intended to do that.  And how many LONGTERM shareholder here might gladly exchange TLT shares (at a reasonably decent premium) for shares in another company that they are fully persuaded will carry them over the goal line, rather than being subjected to the never ending small

[menoalittle]

This is also why I said alarm bells ought to be going off in the heads (of those that have been selling shares, thinking they are quickly going to replace them with other - perhaps cheaper - shares in another pp.)  I think there's a risk here that they simply aren't paying attention to, especially with that many warrants set to expire in August.

[reconsider]

Unfortunately, the falling wedge in which we are for the last 2 years says there will be more chances to buy cheaper... I hope I'm wrong and we get out of it already. But this seems to me the most basic lesson of market sentiment: A week ago this chat was gloomy (and we were in the bottom of the wedge), turns out we do a +50% in 2 sessions. Now everybody is happy and talking in the dollars

[Alamir1111]

Anything over 1.00$ I'm voting for it

[menoalittle]

As long as it's a stock exchange and not a cash offer, I have no doubt that there would be many millions of other shares that would vote likewise.  At this point, I just don't think there's all that many that have given this any thought whatsoever.

[StevenBirch]

You guys are jokers, $1 really? I don't think there a single real shareholder that would vote for that.

[Alamir1111]

 Think looking at .19  or at 1.00 would change quite a lot of real shareholders minds

[2b7f6fab]

Lots of smart players on this board imo, especially menolittle.  What a low ball TO offer does is allow warrant holders to excercise their warrants.  Theralase then has $20 million in cash to move forward. eom.

[DJDawg]

My dream scenario is - TLT gets the 540, 630 and 720 data in the next month or two - it looks great with durable response - spikes price to over 0.35 - warrants are redeemed for 20m in cash (although dilutes stock a bit, sigh) - no more PPs for a while - fast roll on phase 1 with the cash infusion. But not likely. Sigh. Just out of curiousity, 0.35 is a break even strike price on the warrants

[CAinPlap]

I don't think we have another news release expected in time to get the warrants in the money in time. I think too many of those near the top of Roger's rolodex are only interested in holding the warrants and will sell out their shares to participate in the PP's Roger is forced into.  Self-fullfilling prohecy/circular reference.  I suspect we start seeing anonymous start