RE: Steve Malsin post re secondary offering
<<<<>>>>>
Check this out. The Steven Malsin post on SI stated the syndicate would
support the secondary offering price of GBLX......so how come it is falling?
I figured it must be tied to an index somehow. So I pulled out my slide
rule and took off my socks (slide rules can't add, remember?). If the
COMP.Q for the 11th (date of pricing at 33) and the COMP.Q for the 12th
(date of sale) are averaged, and the percentage difference from then till
tonight's closing is applied to the 33$ sticker price for the secondary, it
comes to 28$. Same for previous night, at 31$. In both instances, the price is
increased by 1/8....Goldman, always the Gentleman, no? So, the syndicate
has apparently tied the price to the overall index of COMP.Q, or we have an
extremely bizarre mathematical coincidence. Now, had I known that, I would
have still been unable to profit by it, however it is interesting to know
these secondaries may be tied to the index on the down side, eh? Live and
learn. Times such as these reveal the lack of makeup, and sometimes this
can be helpful for future reference.
Aloha,
Martin |
