Too Many Questions To Get Comfortable With PhotoMedex
Stephen Simpson, CFA
Stephen Simpson, CFA
Tue, Jun. 21, 12:21 PM
- Thinly traded nano cap PhotoMedex (PHMD +54%) jumps on almost a 50x surge in volume on no particular news. Shares were down ~80% since March.
- A few months ago, DS Healthcare (DSKX) announced that it would acquire PhotoMedex's consumer and professional products businesses for $48M but the deal fell apart.
- Previously: DS Healthcare and PhotoMedex transaction on the rocks (June 2)
Mon, Feb. 22, 10:15 AM
- Thinly traded nano cap PhotoMedex (PHMD +50%) jumps on triple normal volume in response to its announcement that it will sell its consumer products and professional products businesses to DS Healthcare Group (DSKX -2.4%) for ~$48M in a combination of convertible preferred stock, common stock and a note.
- The transaction is structured in two reverse triangular mergers, expected to close in Q2. Assuming the full conversion of preferred shares and exercise of existing warrants, PhotoMedex stockholders will own ~43% of the combined company with DS stockholders owning ~57%. A reverse triangular merger is one where the acquirer executes the transaction through a subsidiary which is then absorbed by the target.
- Under the terms of the deal, DS will issue $20M of convertible Series A preferred stock and a $4.5M note to acquire the Radiancy consumer products business. It will also issue 8.75M shares of common stock for PhotoMedex's technology business, including Neova. Six million of the shares will be considered "make whole" which means that their total value must be at least $20M ($3.33/share) on the third anniversary or more shares will be issued to make up for the shortfall.
- The board of the combined firm will consist of three directors from PhotoMedex and three from DS plus one independent director.
Jul. 2, 2015, 12:45 PM
Jun. 23, 2015, 9:16 AM
May 11, 2015, 12:48 PM
May 11, 2015, 12:04 PM
- PhotoMedex (NASDAQ:PHMD): Q1 EPS of -$0.05 vs. $0.23 in 1Q14
- Revenue of $28.15M (-43.8% Y/Y)
- Shares -15%
Mar. 18, 2015, 12:45 PM
Mar. 4, 2015, 12:45 PM
Mar. 4, 2015, 10:18 AM
- Nano cap PhotoMedex (PHMD +24.6%) jumps on modestly higher volume as short sellers close their positions. Several days ago, the company announced the sale of it LCA-Vision subsidiary for $40M in cash which the company will use to pay down debt.
- As of February 13, 38% of the float was held short according to Yahoo Finance.
- Previously: PhotoMedex jettisons LCA-Vision (Feb. 2)
Mar. 4, 2015, 9:13 AM
- Gainers: IFON +44%. NVGN +44%. EFUT +36%. CNDO +27%. W +22%. ATOS +16%. PHMD +20%. ATHM +13%. NURO +12%. SWHC +10%. AMRN +9%. AEO +8%. AMBA +8%. CRMD +8%. SOL +7%. OREX +7%. TIVO +6%. EXAS +5%.
- Losers: CYCC -22%. BOBE -19%. TNET -16%. BV -16%. VEEV -15%. CYTX -8%. ANF -8%. ONCY -6%. ACHN -5%. FAST -5%.
Jan. 26, 2015, 12:46 PM
Jan. 13, 2015, 12:45 PM
Jan. 13, 2015, 9:24 AM
Jan. 8, 2015, 12:47 PM
Dec. 19, 2014, 12:45 PM
Dec. 16, 2014, 9:10 AM
PhotoMedex, Inc. is a global skin health company, which provides integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers. It provides proprietary products and services that address skin diseases and conditions including psoriasis,... More
Industry: Medical Appliances & Equipment
Country: United States
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