Capstone Therapeutics CorpNASDAQ
Jun. 24, 2014, 10:43 AM
- Under the guise of protecting its accrued tax benefits, Capstone Therapeutics' (CAPS) BOD authorizes and declares a dividend distribution of one right for each share of outstanding common stock. Each right entitles the holder to purchase 1/100 of a share of Series A Preferred Stock for $5.00.
- The plan's intend to to discourage any person from acquiring more than 4.9% of the company's common stock without the approval of the BOD. If an investor were to make an unwanted move to acquire the business and accumulate a 4.9% stake then the rights owners would be eligible to purchase a number of common shares at a 50% discount to the then-current market price.