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CYTX Financial performance development
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TOPIC: Signs of an ATM, or something sinister/"normal"?

Signs of an ATM, or something sinister/"normal"? 01 Mar 2015 14:58 #3594

  • agamemnus
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From another topic:

DOV wrote: On another note, the odds must be high that Cytori has been tapping their ATM during this rally. They are operating full steam ahead with their trials and with very little money in the bank. They don't have to report using the ATM until the 1st quarter results are out or they chose to do so during the upcoming conference call. Also, it would not surprise me if there was a 13G filing early next week.


If you look at the share price, Monday, Wednesday, and Friday, and much of last week as well, both the volume and price levels off after a few hours. The price is then mostly steady until the end of the day. My first thought was that it was a market-maker type trader matching bids and asks, but that seems pretty risky especially with such high (early morning) volume and changes in share price day-to-day.

It could also be the ATM. The CFO specifies the minimum, and Cowen sells up till that minimum is hit. (By the way, the ATM deal is another example of terrible value in past deal-making. 3%?!?)

http://www.sec.gov/Archives/edgar/data/1095981/000119312514194926/d724175d8k.htm :

Subject to the terms and conditions of the Sales Agreement, Cowen will use its commercially reasonable efforts to sell the Shares, based upon the Company’s instructions, consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and rules of The NASDAQ Global Market. The Company will set the parameters for sales of the Shares, including the number of Shares to be sold, the time period during which sales are requested to be made, any limitation on the number of Shares that may be sold in one trading day, and any minimum price below which sales may not be made. Under the Sales Agreement, Cowen may sell the Shares by any method permitted by law deemed to be an “at-the-market offering,” as defined in Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), including sales made through The NASDAQ Global Market, on any other existing trading market for the Common Stock or to or through a market maker. In addition, if expressly authorized by the Company, Cowen may also sell Shares in negotiated transactions. The Company has no obligation to sell any of the Shares and may at any time suspend offers and sales under the Sales Agreement. The Company and Cowen each have the right, in their sole discretion, to terminate the Sales Agreement at any time upon prior written notice as provided in the Sales Agreement.

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Signs of an ATM, or something sinister/"normal"? 16 Mar 2015 16:07 #3809

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Back to this...

Did they just give advance notice of an ATM or what? I am very confused.

www.sec.gov/Archives/edgar/data/1095981/000119312515093801/d890183d424b5.htm

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Signs of an ATM, or something sinister/"normal"? 26 Mar 2015 15:14 #3976

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I think the steam of 100 shares may signify Cowen ATM sales. Looks like to me the ATM sales are careful done in face of dwindling volumes. This is the end of the first Q, CYTX needs to raise millions of dollars ( I think $ 10 million) to balance the book for the Q. I think the sales prices may slowly going down, a little bit at a time, till the end of the Q, in order to attract buyers, without selling too cheap.

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Signs of an ATM, or something sinister/"normal"? 26 Mar 2015 15:44 #3977

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I wonder why they don't release the ATHENA data, which they said they would have available for analysis in 1Q. I feel the data would at least be promising, if not excellent, based on other studies and should raise the pps.

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Signs of an ATM, or something sinister/"normal"? 26 Mar 2015 16:52 #3978

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The same applies to the ADVANCE data, which was released but only the "safety" part which was pretty ridiculous.

Shareholders paid for that clinical evidence and I feel have a right to know the data.

After that scilly chat which was supposed to be "communicative" and was exactly the opposite, I have tried to get opinions of people "in the know" of the science.

They all say- results should have been good.

So, why hide???????

Apparently ulterior motives. :evil:
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Signs of an ATM, or something sinister/"normal"? 26 Mar 2015 20:07 #3982

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While the prices aren't great...the ATM is far more favorable vs secondary fees and 50 to 100% warrant dilution on top of the secondary.

3% is a small price imho.

I am confused as to why you are confused. :evil:

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Signs of an ATM, or something sinister/"normal"? 27 Mar 2015 12:43 #3991

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We wont be raising much money today with this light volume.

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