BL, while RADA has been buying shares in the market the shares made available for sale by this filing are from a shareholder, not the company.
from the F-3
CONTROL BY EXISTING SHAREHOLDERS
The Company's largest shareholders including Mr. Robert E. Davids, the
selling shareholder in this prospectus, and a group that consists of Dito Devcar Corporation and certain related persons, and management and other large shareholders, own beneficially in the aggregate a majority of our outstanding common stock. Assuming that they were in agreement, these persons would have the power to elect our directors and to approve or disapprove all other matters requiring shareholder approval regardless of the vote of any other shareholders.
Actually, I find comfort in this filing. While it does suggest a pile of shares (approximately 16% of those outstanding) may come to the market at some point it also implies that RADA is not likely to be taken private. Also, given that the sale is not a massive secondary but rather a distribution of parts (or the whole)timed at the discretion of the shareholder, perhaps this insider is simply getting prepared for a ramp up in price. A couple of shareholders (and their trusts) have been accumulating shares of RADA for a long time. The time to collect profits for them (and maybe us), may be just on the horizon. (The $10 figure referred in the filing was not the intended price for sale by the market price at the time of the filing -- sorry didn't read it closely enough the first time).
Skippard, your insights on this filing welcome.
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