Seeking Alpha

Perion lower after filing shelf registration

  • Perion (PERI -2.3%) has filed to sell up to 45M shares on behalf of existing holders through future offerings.
  • The filing comes four months after Perion completed the acquisition of Conduit's ClientConnect toolbar unit through an all-stock reverse merger.
Comments (2)
  • go2net9999
    , contributor
    Comments (2) | Send Message
     
    "Exactly, but these particular shareholders cannot sell any of their shares except pursuant to the lock-up terms of the merger agreement. This means no shares can be sold before the end of this June (six months from the actual closing of the merger which I think was January 2). Then they can only sell up to 10% of their shares for an additional 18 month period taking us through the end of 2015. They are permitted to sell additional shares (up to 33%) during the 18 month period only if the share price trades at $15 or higher for a required period. They can sell up to 67% if the price exceeds $18.50 and finally, all of their shares if the price if the price reaches $22.00 per share. After two years from the merger, which puts us into January 2016, the lock-up period expires. Accordingly there is no short term threat of shares being dumped on the market"
    8 May, 08:46 PM Reply Like
  • vaisfordoglovers
    , contributor
    Comments (43) | Send Message
     
    go2net999: That is called plagiarism, but at least you used quote remarks! That is copied verbatim from my comment on the Yahoo finance board. Glad to see it posted here as well -- fly on the wall neither bothered to publish my comment or clarify its report.
    14 May, 12:34 PM Reply Like
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