Looks like Pfie is offering their stock for 4 dollars a share this morning.
http://www.marketwatch.com/story/profire-energy-inc-prices-u…
I can’t believe they did this and I do not understand companies when they price them so cheap.
Andy
1 Like
The the offering is for 6M shares plus up to 0.9M for over allotment for a total of 6.9M. But 1.5M will be management selling some of their shares. So 5.4M new shares will be issued (this is the dilution). The rest is a large insider sale. The company will probably receive about $20M (plus it already had around $5M as of 12/31/2013). I don’t know why the insiders would use this offering to sell their shares.
1 Like
Chris;
By their last annual report, the insiders hold 84% or 38m of the common stocks. So some of them might what to buy a house?
Cheers.
-M
That’s it. I’m out!
1 Like
That’s it. I’m out!
Geez, Rizz, I just got in (not what I would call good timing nor a good price when the company believes their stock is worth $0.85 per share less than I did).
Mykie