Bovie Medical Corporation (NYSEMKT:BVX) traded around 1.6 million shares on Monday, December 7 in two big blocks, one of 599,600 at $1.90 and the other 999,500 at $1.90. (This was on top of the regular trading volume.) Since it didn't move the price - and it was more than ten times Bovie's average daily volume - we can reasonably assume this was a prearranged trade.
There are multiple possible explanations for the trade.
RENN Universal Growth Investment Trust (RUGIT) holds (or held) 1.6 million shares. As the fund is being liquidated and the proceeds returned to shareholders, those shares were / are going to come onto the market. With a target date for liquidation of December 31 and a good match in the number of shares, there's a strong possibility the shares were sold by RUGIT.
The volume could also be due to the conversion of preferred shares to common shares. As of September 30, 2015, the Series B convertible preferred stock had 3,588,139 issued and 1,975,639 outstanding.
Another possibility is that the share trade had to do with a Bovie deal with Steve Livneh and his group of companies, including their China operations. (In past writings, I have suggested that there is a strong possibility Mr. Livneh will return to the Bovie fold, particularly with the changes in Bovie management and the business case to be made for such a move.)
I hope to add some more ideas and information soon. As I don't have time to write any more articles (and more Instablog posts looking doubtful), it will likely be in the form of comments added to the comment sections of previous Instablog posts. In each case I'll try to add the comment to the most recent relevant Instablog post to make it easier to find.
Disclosure: I am/we are long BVX.