So, correct me if I am wrong, one or some of the professional investors who were invited to participate in the share + 1 for 3 free option deal @12c per share back in March have now decided to front up and purchase their 4 million odd shares + free options this week at a price of 12c per share.
Why not just purchase the 4 million or more (plus options) on market at 6c? The 1 million odd options exercisable at 11c were free but you couldn't sell them on market for more than about 1c or 2c. So they paid, in rough figures, about $500k for all these shares and options that are currently worth roughly $305k.
Were they scared about such a large purchase driving the OGX SP up on market if they did this? This seem to me to be the only reason they would participate in the placement at this time. I'm assuming of course that they had a choice. Maybe they are still accumulating at the current low SP levels. Seems like a large premium compared to current market prices. If they are a large holder they must be pretty convinced re the future of OGX!!!!!
Any other thoughts re this professional investors strategy or intentions.
OGX Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
