Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders...

Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders through a public offering. CEO/NBA owner Robert Pera will be selling 1.7M shares, lowering his stake to 64.4% from 66.4%. Investment firm Summit Partners will be selling 6M, lowering its stake to 10.5% from 17.3%. The filing comes shortly after Ubiquiti closed near its 52-week high, and a week after shares took off in response to a Q1 beat and strong guidance. (S-1)
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Comments (2)
  • Philip Marlowe
    , contributor
    Comments (1571) | Send Message
    Dammit Pera, I believed in you. I know you are selling a small amount but if you really believed in UBNT you would not be selling anything. You own more than half of the company, if you need extra 30 million dollars, just declare a special divident.
    17 May 2013, 07:46 PM Reply Like
  • sfguy2010
    , contributor
    Comment (1) | Send Message
    Robert needs the money for his Memphis Grizzlies and the stock is an all time high. Why would you want to sell your shares? or You want him to sell the shares when it is $5...


    Robert, sell when you can
    18 May 2013, 09:31 AM Reply Like
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