Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: Doc Bones who wrote (1398)	4/5/2002 2:44:47 AM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 1426

Hi Doc, Looks to me as though it's a private sale that was recorded after hours. Here's why... Someone got 250K shares @ $4.10 which totals $1.025M. Two minutes prior to that someone (likely the same person or entity) got 77K shares @ $4.25 or $327.25K. And four minutes prior to that, someone got 10K shares @ $4.31 which comes to $43.1K. Add up all three transactions, presuming the same buyer on each sale, and there were a grand total of 337K shares sold @ a total price of $1.49535M. That's suspiciously close to $1.5M, so allowing $4650 for brokerage commissions/fees (or thereabouts), and that $1.5M figure becomes very realistic. I took the liberty of glancing through the recent news releases for BTRN, and I see that they just recently made a presentation at a biotech conference in Europe. (Europeans are often big investors in USA biotech firms.) So, my guess is that this was a private sale to a European buyer, perhaps a mutual fund or an investment group. I'll go much further out on a limb and guess that the seller was BTRN itself, raising cash for future needs. It's not at all unusual for biotech firms to raise capital in this manner. It's highly likely that BTRN has shares for sale that have been authorized in the past, but not yet sold. If I've guessed correctly, this shouldn't be dilutive to existing shareholders because the authorized share count won't increase. In other words, these shares were already included in the outstanding share count. But I am just guessing and I could be wrong. Stay tuned for any company announcements in the near future. And watch for company filings daily, perhaps several times daily... You're watching to see if the share count increases which could/would be dilutive... KJC