Thread,
Correcting earlier post.
Insiders had 2.5M shares
Namtai bought 14% in 1994 = approximately 350K shares
Original offering of 1M + over allotment of 150K equals 575K shares.
Behringer bought 450K in August 1996
Stock options (exercised and unexercised) on 3-30-97 was 450,000.
This brings total know dilution on 3-30-97 to approximately 5.4725M with 1.150 in float and 575K of warrants = 1.725M
Insiders now have the 2.6466M + options of 178.4K = 2.825M
Behringer retains the 450K and apparently is reported as Insider shares. Total insider holdings and options would be 3.275M
Namtai shares were sold into the float bringing it to 1.50M.
To date we know of 271K shares of options have been exercised
Of these, 125K have been sold into the float
Some warrants were exercised before the call date, a few redeemed.
Estimated float of 2.2M after the Ws were called.
Of this we know of about 600K held by institutions on Jan 30 and, from the trading action, it looks like this number is increasing.
Strong trading Monday, fell off to small volume Tuesday, up to very high volume Wed., off again to very light trading Thur, slow Friday morning and early afternoon, then a lot of shares being picked up at 20.50 and below.
For what it's worth,
Ron
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