Does Third Eye Capital Sell a lot of shares ?TEC holds the term loan. From getting shares instead of full interest payment, they are now the largest shareholder. No loan principal has ever been paid, and has grown substantially from deferred interest payments, and another $50million added in lieu of paying the one time loan shark "fee".
The term loan is due in full Oct 2023. Improved cash flow only means the loan balance may stop growing. There is no chance the loan will be paid on time. There is going to have to be a restructuring.
So TEC has every reason to not be a happy camper. And I was wondering if maybe they have been regularly unloading shares whenever interest in PEA goes up.
The share price increases have been remarkably stable. When there are lots of bids, there are always lots of shares put up. Is it really very likely that the number of non-insider buyers always just happens to be in balance with the number of non-insider sellers?
Or is it upticks in non-insider buyers (like now, but this has happened before), with a big insider always eady to sell into price increases?
The other pattern is that when the rally stalls- the volumes instantly go flat. If this was mostly smaller buyers and sellers, the down run would maintain the volumes for longer. When the price goes back up, the volumes go back up faster than the SP.