Argex Titanium Inc. ARGEF

RE:A Theory for why Luxor sold

[Astrosmith]

This is finally the coherent explanation of Luor's activites I have been searching for. 
It reconciles everything very nicely and also still strongly supports the bull case for RGX. 

They get a tax-loss for $10+ million, and by selling at the bid and not pushing the SP down the draw out the interest payments for the DB's they hold for a couple of quarters meaning their net loss of shares is only 10mm (3 quarters of interest equals roughly 5mm shares. 

And then at the end of the day they will hold 50mm+ shareas and have a huge tax break, instead of just holding shares with a fairly high average of 0.32 they get a new average in at 0.11.

This analysis is a thing of beauty. Every other explanation I had was coming up short on at least one front. I think this clearly hits all points and explains the recent activity fully. If I was Luxor this path would be a very attractive and beneficial one. The tax loss is the key. It will mean millions for Luxor and they still get to maintain their huge stake in RGX. This is key to why they would ahve agreed to the conversion price going to 0.11 in the first place. Or they would ahve just cut and run.

And we know they are low on shares so things are lining up for the huge appreciation when the DB's are triggered for conversion and Luxor is fully long again and in deep with all of us. 

They were never getting out, just doing what institutions must be expected to do- making the most of their investments. Beautiful.