Float a secondary with a 1% premium to closing price and raise needed capital to continue his battle with AAPL? I doubt it. He has held a big position and still does, but was forced to sell on a called in loan. I think he was shocked at his loss at the CAFC and is under pressure to produce some positive results. I read about his taking this company when he left SAIC and was able to grant himself options which he exercised at $1, so even at the current price and his continued stock grants along with options has probably recouped the loss on the called in loan. He currently is not using margin which is a good thing, but might be somewhat constrained to buy anything stock-wise right now. He missed several opportunities to sell at 40. I would be happy to see a jump up to 6 or maybe even 8 at this point. Don't know how many of the stock supporters here now sit cost basis wise, but I hope they are able to make some money.
Need an example???: FCSC floated add'l stock a few days ago (2.6 mil shs @ $5.80 per sh) at a premium of 1% (you would normally expect a price below the prior closing price, right?)....it is revealed yesterday that Randal Kirk BUYS 37.5% of the deal, almost 1 mil shares. The stock went UP not down right after the deal was accomplished. Insider buying seems to be a strong indication of price direction and the fact that the underwriters took down the green shoe a good indication of promise. Check out SYN, too (another Kirk holding) priced at a discount, but green shoe taken down and price pretty good. I own small positions in those 2.