RE:RE:c-band auction already has tripled some expectations
I have to admit I was hoping for broader inside participationj in the offering.Then i started analizing how the private placement was being offered in that insiders would buy a miniumum of 1.1 million to a maximum of 1.9 million units. So how were the remaining 800k plus units being deligated. Why did insiders not buy up the remaining 800 k units immedantly the next morning as they all must have the banker on speed dial. My thought is that they were not allowed to. I mean given the popularity of the issue and the fact it was fully subscribed to the first morning it was offered. Is it who ever phones first and puts their order in so that investors are competing with board members who have inside knowlege for the remaining 800k? Why was this obviously undervalued issue being gobbled up by funds mangers and being shunned by alnost every insider. Why is this stock trading at an almost 17 percent premium to the offering not even including the warrant value. The only answer is the remaining insiders were shut out by the popularity of the offering.There had to be a wait period for insiders built into the offering.