Hello
the findings made by the company to determine the percentages that we observe, are in virtue of what has been officially declared through the 3B; in these documents the company declares changes in ownership of shares, but not always the identity of those who purchased and this is the key element to make the right estimates.
on the merit, it is stated that Walker has purchased and never sold 18%, the managers through assignments documented in the 3B actually have today 10%; while Lanstead, which signed the exclusive ADC at the end of June 2017 together with Rettsyndrome.org (which already had 3.5 million shares since 2015) with 8 million shares as 3B of the following July 13, confirms a 12% of the total of the Neuren shareholding (Lanstead + Rett.). then the same Landstead at the end of 2017 sold 1.9 million shares without declaring the buyer then the proportion of institutions fell to 10%, while that of retail acquires a 2%.
As for Acadia, the company has allocated 1.3m shares, but again without declaring the buyer, so they also go into retail, raising the percentage share of an additional 1% for a total of 60% compared 57% previous.
What I finally finally clear and that makes the market so depressed, also giving an obvious explanation of the collapse in one fell swoop on August 6th is the question options to executives who have been preaching for more than a year, but without particular listening. consciously with the expected deadline is May 2019 for Pilcher and Shaw and May 2020 for Blower, these options have matured because issued under an incentive plan, where at the conclusion of a partnership for Trofinetide, they became for their half convertible. this happened, but simultaneously (it is not a coincidence) the day of the partnership announcement the 2.70 title and passed to 1.60 so in fact below the threshold of 1, 64 / 1.84 $ which are the prices conversion key; practically those who operated on the market, did not allow the proceeding of the shares, which would have involved a spending of a couple of million dollars by Neuren to redeem them from the debt made to hold them. moreover, the company has been in difficulty since September 1st and must decide what to do, because in July 2017 it was agreed with the managers concerned, to postpone any decision regarding 1September 2018, since before the agreement with Acadia there were the full pricing prerequisites on the market for assignment.
that's why those of Neuren are pissed off and have their hands locked! perhaps Acadia or those who operate on the market by manipulating do not want the company to spend money for reasons other than the production of Trofinetide or toxicity studies. in fact, the company now also has the money for this and even that, but does not have the price on the market above the thresholds, so either Treagus finds someone who pushes the market directly or must postpone the gratification of his colleagues to after toxicity results and production. about Treagus !!! he, before the agreement had all the parameters in place for the conversion of his shares and the company has increased the capital with great effort to satisfy him, so if he is honest he must do everything for his colleagues too.
I hope I have been clear, but from these concepts are shown many things misunderstood in the last month. ask the company why there is still nothing decided on the options given the deadline of 1 September expired by a week. you will see that they will reply that they are thinking about it and this says a lot about how much those damn options count.
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