Tripping,
Why the HAYZ? It looks as though they are going into Chapter 11.
I have done some DD on BEHL and I have to agree, I think if you want to go long on it . . . it could be a good purchase.
A few months back I had KOG at .32 and finally gave up on it. Then about 2 weeks later it shot up to over 1.00 <sigh> I love the stock market.
Magician
well i wont be buying back this week :O if i can time it right with some of my other trades i would like to buy back in the low .30's, i think siri might get beat down till it can show subs are not falling off a cliff. i dont want to say its going into the .20's but really i dont see why not if this thing is going down from this latest news then when they announce the next round of sub losses how is it going to react then? i think for sure we will test .36 and the last time we tested it there wasnt bad news floating around so will see. anyway no1 should be listening to me, i am not an expert.
Stock Magician, Stockegg.com had KOG on their watch list for today. Possible break out it said, and it did just that.Originally Posted by Stock Magician
Hi Debber -
ONCF will go back up....if you can afford to hang onto it, then I would say do just that. All drys shipping stocks are similar. They have never failed me yet.
If it were I, then I would hang onto it and just let it ride if I had it at 2.00 sp.
You could average down. This is one stock that I personally am not afraid to average down with. But this is all up to you.
I am just waiting for OCNF to drop more, then I am going to stack it with money and wait for it to run again.
Quite a few of us have a long now, SSCCQ, you might take a look at that. I don't know how impatient, of a trader that you are, but SSCCQ is slowly building and looking really good. The website is in an above post by Ray.
As far as SIRI........I am not getting into it, lol. I currently don't own any. I am in the watching mode with it now.
Okie Dokie? Join in any time here!
Bill
Last edited by billhart22; 05-12-2009 at 02:50 PM.
yeah it could be the dumbest move ever, anyway its not known yet if the common will be completely wiped out, so its going to be real volatile and im hoping to get lucky with it. im playing a really small amount so i can afford to **** up and lose it. plus i like to buy things on massive pullbacks, i dunno maybe its a really bad habit
Last edited by trippingthespeculatingpos; 05-12-2009 at 02:49 PM.
Thanks Bill!!. I may average down on OCNF. Should have some funds clear tomorrow so as much as I don't want to say, I hope it stays down today for the sake of averaging down.
I don't blame you for not getting into the SIRI discussion. I haven't been happy with what's been going on, but at the same time only blame myself for not waiting it out and buying back in the .50's.
I've been looking at SSCCQ, before I even starting looking at this forum. Kinda weird when I saw the discussions around it here. I don't have a problem holding LONG on stocks, just looking to get in the green and stay there. Never turns out that way for me. Usually I have to watch the RED for a few weeks, then see it hit some green.
Aw well. I'll pop in a few times a day here to see what's going on. Keep the ideas flowing.
Bill,
I am also long on SSCCQ. I have a good feeling that it will work out. But I think it is going to take sometime and patience. This is one I am just filing away and forgetting about. I would like to see it push a dollar or more rather quickly when they emerge from Bankruptcy.
I also had some SHSNQ . . . but they disappeared. I think my money on that one tanked. They were coming out of Bankruptcy and so I took a chance on them with some lunch money. I read their statement when they came our of bankruptcy and it look promising and then "poof" they were gone.
Magician
SEATTLE, May 12, 2009 /PRNewswire-FirstCall via COMTEX/ -- Cell Therapeutics,
Inc. ("CTI") (Nasdaq and MTA: CTIC) today announced that it has commenced a
"Modified Dutch Auction" tender offer (the "Exchange Offer") to exchange shares
of its common stock, no par value ("Common Stock"), and cash for an aggregate of
$89.2 million principal amount for the following outstanding series of
Convertible Notes (the "Notes"):
-- 4% Convertible Senior Subordinated Notes due 2010
-- 5.75% Convertible Senior Notes due 2011
-- 6.75% Convertible Senior Notes due 2010
-- 7.5% Convertible Senior Notes due 2011
-- 9% Convertible Senior Notes due 2012
The Company is conducting the Exchange Offer in order to reduce the principal
amount of its outstanding indebtedness. The Company believes that reducing its
outstanding indebtedness is necessary in order for its business to operate in
light of its current asset base and revenue prospects.
The Company will exchange up to an aggregate of $89.2 million principal amount
of Notes representing 75% of the currently outstanding Notes. The Exchange Offer
is conditioned on a minimum of $83.2 million aggregate principal amount of Notes
being validly tendered and not withdrawn. For each $1,000 principal amount of
Notes, holders will receive consideration with a value not greater than $300 nor
less than $250 (the "Exchange Consideration"), with such value determined by a
"Modified Dutch Auction" procedure, plus accrued and unpaid interest to, but
excluding, the settlement date payable in shares of Common Stock. A "Modified
Dutch Auction" tender offer allows holders of the Notes to indicate the
principal amount of Notes that such holders desire to tender and the
consideration within the specified range at which they wish to tender such
Notes. The mix of Exchange Consideration will consist of (i) $200 in cash, and
(ii) a number of shares of Common Stock with a value equal to the Exchange
Consideration minus $200 (the "Common Stock Portion", and such number of shares
of our Common Stock being the "Common Stock Consideration"). The number of
shares of Common Stock received by holders as part of the Exchange Consideration
will equal the quotient obtained by dividing (x) the Common Stock Portion by (y)
the average of the daily volume weighted average price of the Common Stock on
the national securities exchange on which the Common Stock is listed or quoted
for trading as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m.
(New York City time) to 4:02 p.m. (New York City time)) for the 10 trading days
from and including May 19, 2009 to and including June 2, 2009 (the "10-day
VWAP"). The Company will announce the 10-day VWAP prior to the opening of
trading on June 3, 2009. Accrued and unpaid interest on Notes validly tendered
and not withdrawn, up to, but not including, the date of exchange, will be
exchanged for that number of shares of Common Stock determined by dividing (1)
the amount of accrued and unpaid interest on a Note, by (2) the 10-day VWAP, and
as further described herein. However, in no event will the aggregate number of
shares of Common Stock Consideration plus the aggregate number of shares of
Common Stock to be exchanged for accrued and unpaid interest exceed a maximum
number of shares of our Common Stock (the "Common Stock Limit") to be disclosed
in the Schedule TO (including the Offer to Exchange and related Letter of
Transmittal) that will be filed by the Company with the Securities and Exchange
Commission ("SEC"). In the event the aggregate number of shares of Common Stock
Consideration plus the aggregate number of shares of Common Stock to be
exchanged for accrued and unpaid interest exceeds the Common Stock Limit, the
Company will terminate the Exchange Offer.
The description of the Exchange Offer in this press release is only a summary
and is qualified in its entirety by all of the terms and conditions of the
Exchange Offer set forth in the Offer to Exchange and the Letter of Transmittal.
As of May 11, 2009, approximately $118.9 million aggregate principal amount of
the Notes were outstanding.
The portion of the Exchange Consideration consisting of cash will be paid for
with cash on hand and/or a portion of the approximately $18.75 million aggregate
net proceeds from the Company's issuance of shares of Common Stock and warrants
to purchase shares of Common Stock to a third-party investor on May 11, 2009.
The portion of the Exchange Consideration consisting of shares of Common Stock
will consist of newly issued shares of Common Stock for that purpose.
The exchange offer is subject to the terms and conditions set forth in a
Schedule TO (including the Offer to Exchange and related Letter of Transmittal)
to be filed by CTI with the Securities and Exchange Commission ("SEC") today.
The exchange offer is scheduled to expire at 5:00 p.m., New York City time, on
Wednesday, June 10, 2009, unless the exchange offer is extended. Tendered Notes
may be withdrawn at any time on or prior to the expiration date of the exchange
offer.
If the aggregate amount of Notes validly tendered and not properly withdrawn on
or prior to the expiration date at or below the Exchange Consideration exceeds
the amount CTI is offering to exchange, CTI will accept for payment the Notes
that are validly tendered and not properly withdrawn from the exchange offer at
or below the Exchange Consideration on a pro rata basis from among the tendered
Notes.
The financial advisor for the exchange offer is Piper Jaffray & Co., the
information agent for the exchange offer is Georgeson Inc. and the depositary
for the exchange offer is U.S. Bank National Association.
About Cell Therapeutics, Inc.
Headquartered in Seattle, CTI is a biopharmaceutical company committed to
developing an integrated portfolio of oncology products aimed at making cancer
more treatable. For additional information, please visit
www.CellTherapeutics.com.
Exchange Offer Statement
This press release is for informational purposes only and is neither an offer to
buy nor the solicitation of an offer to sell, any securities. The full details
of the exchange offer, including complete instructions on how to tender the
Notes, are included in the Offer to Exchange, the Letter of Transmittal and
related materials, which are expected to be delivered to holders of the Notes
shortly. Holders of the Notes should read carefully the Offer to Exchange, the
Letter of Transmittal and other related materials when they are available
because they will contain important information regarding the Exchange Offer.
Holders of Notes may obtain free copies of the Offer to Exchange, the Letter of
Transmittal and other related materials when filed with the SEC at the SEC's
website at www.sec.gov. In addition, holders may also obtain a copy of these
documents, free of charge, from Georgeson Inc., the information agent for the
Exchange Offer.
Holders of the Notes who have questions or would like additional copies of the
exchange offer documents may call the information agent at (800) 457-0759. Banks
and brokerage firms may call (212) 440-9800.
While CTI's board of directors has approved the making of the Exchange Offer,
none of CTI, its board of directors, the financial advisor, the information
agent or the depositary makes any recommendation to any holder of the Notes as
to whether to exchange or refrain from exchanging any Notes, or as to the value
of the Exchange Consideration with the range specified by the Company at which
holders may choose to exchange their Notes. CTI has not authorized any person to
make any recommendation with respect to the Exchange Offer. Holders of the Notes
must decide whether to exchange their Notes and, if so, the principal amount to
exchange and the price or prices at which to exchange such Notes. In doing so,
holders of the Notes should carefully evaluate all of the information in the
Offer to Exchange, the related Letter of Transmittal and other related materials
before making any decision with respect to the Exchange Offer and should consult
their own investment and tax advisors.
Statements made herein other than statements of historical fact, including
statements about CTI's business and financial condition, are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As
forward-looking statements, they are subject to a number of uncertainties that
could cause actual results to differ materially from the statements made.
Reference is made to discussions about risks that may affect CTI in CTI's
Schedule TO to be filed with the SEC today, and the section entitled "Risk
Factors" under Item 1A of Part II of our Quarterly Report on Form 10-Q for the
fiscal quarter ended March 31, 2009. We do not undertake any obligation to
update forward-looking statements.
Media Contact:
Dan Eramian
T: 206.272.4343
C: 206.854.1200
E: media@ctiseattle.com
Investors Contact:
Ed Bell
T: 206.272.4345
Lindsey Jesch Logan
T: 206.272.4347
F: 206.272.4434
E: invest@ctiseattle.com
www.CellTherapeutics.com
SOURCE Cell Therapeutics, Inc.
URL: http://www.celltherapeutics.com
www.prnewswire.com
Magician -
They evaporated?? I didn't know that, they were around just a few days ago, right?
I am glad to hear that you are long on SSCCQ. We are building a brotherhood here with them. I think they are a terrific long IMO. They don't scare me in the least.
I am really glad that you are in here! I learn a lot from everybody's contributions.
Bill
Go SSCCQ! Smurf on!
Last edited by billhart22; 05-12-2009 at 03:32 PM.
ok well forget hayz sold it for 70 dollar loss haha i got my fix for the day. god im all over the place today rofl
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