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Re: Form 4: Pillar at it again A little context courtesy of Robert Doody IR for IDRA via Quadholes (who respects the number 4) I also emailed Bob. And he gave me some additional points which he indicated I could share. Based on what he had shared, I'm not concerned at all. Below is what he shared: On May 3, 2017, at 8:13 PM, Doody, Robert wrote: They are not divesting. They did have some additional shares that they sold on May 1st which was related to the previous sales last week, all part of the 10b5-1 plan that I mentioned. They also this week did convert some of their warrants into shares which means that they had to pay us cash to exercise those warrants. I have the following language offered directly from Pillar. Feel free to share this and or post this with whoever you want: - Pillar is a strategic shareholder in Idera that manages and control 21.5 million shares and has 9.5 million warrants. These shares are held in different funds for different limited partners. Pillar has total management control. - The above number of shares include $3.75 million that were invested in October 2016 offering of the company at $2 per share to buy 1.875M shares as well as $2 million that were invested in November 2016 to exercise 1.37M shares at $1.46 per share. Total invested in 2016 was $5.75 million to buy 3.2M shares. - Pillar has technical needs for different funds it manages that it meets by selling small number of shares. *In the last 6 months Pillar bought a total of 3.2M shares and sold a total of 1.3M shares in April, or 40% of what was acquired in the last six months. *These April sales represent a mere 4% of Pillar's total position. *Pillar expects to maintain a policy of tactical sales to meet limited obligations in the short term with the overwhelming position, acquired between 2011 and 2013, to be strategic in nature for long term value inflection points. I guess Bob knows who Quadholes is now. |
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Msg # | Subject | Author | Recs | Date Posted |
552 | Re: Form 4: Pillar at it again | raferjack | 3 | 5/4/2017 4:15:53 PM |