RE:Dumping 20M shares and keeping 10M warrants @$3.18
I would like to clarify my observation regarding this deal:
1/ These fund fully expect PPS to go up after their due diligent, or they would not even risk $0.98/shr.
2/ From Thera management's perspective, the company (Thera) would not lose anything: it's a bunch of printed papers.
3/ People who really lost out are current Thera shareholders before the deal.
4/ On the other hand, Thera potentials regarding its pipeline remain unchanged, or even confirmed taking into account these money funds' positive due diligent.
So, as I said, the money funds are happy, Thera management are happy. That's why they made the deal at the expenses of current shareholders.