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Six Equity Offerings Price After The Close As Insiders Rush To Sell To Retail

Tyler Durden's picture





 

Just in case the Friday night insider dump bomb by Google executive chairman Eric Schmidt, in which he announced the sale of 42% of his GOOG holdings the day the stock hit its all time high, did not send a clear enough message to the market as to what side of the under-over valued spectrum corporate insiders believe we currently find ourselves in, here come six other companies with announcement of equity follow ons and secondary offerings - mostly by "selling shareholders" who happen to be some of the smartest LBO shops around - after the close on Monday alone. The scramble to sell equity while the selling is good is on.

Follow Ons:

  • Newcastle Investment Corp. (NCT) announced today that it plans to make a public offering of 20,000,000 shares of its common stock. The Company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which may include, but is not limited to, investments in real estate securities, real estate related loans, consumer loans, residential loans, corporate loans, senior living assets, excess mortgage servicing rights and operating real estate.
  • American Capital Mortgage Investment Corp. (MTGE) announced today that it plans to make a public offering of 18,000,000 shares of its common stock.  MTGE expects to use the net proceeds from this offering to invest, as market conditions warrant, in its targeted assets, which include agency mortgage investments, non-agency mortgage investments and other mortgage-related investments.
  • DryShips Inc.  (DRYS ), through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, today announced it is offering 5,000,000 common shares of Ocean Rig that it owns in an underwritten public offering.

Secondaries:

  • Hospital operator HCA Holdings Inc. said Monday that a group of investors plan to sell up to 50 million shares of its stock. HCA said most of the shares will be sold by the private equity funds Kohlberg Kravis Roberts & Co. and Bain Capital Partners. HCA won't get any proceeds from the sale, which is expected to close Friday.
  • Team Health Holdings, Inc. (TMH) announced today that it had commenced a secondary offering of 9,633,107 shares of its common stock to be sold by its principal stockholder, Ensemble Parent LLC, an investment fund affiliated with The Blackstone Group L.P., and by certain of TeamHealth's officers and directors, pursuant to a registration statement that TeamHealth previously filed with the Securities and Exchange Commission.
  • Kosmos Energy Ltd. (KOS) announced today that it has commenced a registered underwritten public offering of approximately 30 million common shares, all of which will be offered by existing shareholders and certain officers of Kosmos.

Fear not: there is much demand, and it has a name. Retail.

 


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Mon, 02/11/2013 - 22:08 | Link to Comment AlaricBalth
AlaricBalth's picture

Something wicked this way comes.

Mon, 02/11/2013 - 22:11 | Link to Comment Larry Dallas
Larry Dallas's picture

I would love to see Cramer pump these over the next 3 days... Not that I've watched that show recently.

Mon, 02/11/2013 - 22:12 | Link to Comment buzzsaw99
buzzsaw99's picture

Eric Schmidt is just doing what the federal reserve gangsters want him to do, become fabulously wealthy at the expense of chump shareholders who will eventually get zero.

Mon, 02/11/2013 - 22:14 | Link to Comment medium giraffe
medium giraffe's picture

Damn, these bastards making me have to get up early again.

Mon, 02/11/2013 - 22:22 | Link to Comment El Hosel
El Hosel's picture

Not to worry... the Bernak likes stocks here, and there, and everywhere.

Mon, 02/11/2013 - 22:23 | Link to Comment Atomizer
Atomizer's picture

 

 

It’s amusing. We just talked about Eric Schmidt this weekend. Maybe he’ll use his stock earnings to make bets with Camel Racing ROBOT JOCKEYS in Abu Dhabi, UAE. Google may have a upper hand in predicting robot jockeys foretelling software odds at winning.

/sarc

 

Tue, 02/12/2013 - 03:09 | Link to Comment Joe moneybags
Joe moneybags's picture

Whew, you really had me going until I saw the sarc tag.

Mon, 02/11/2013 - 22:23 | Link to Comment nmewn
nmewn's picture

Oh yes, been dying to buy Google at all time highs...thank you...weeeeeeee!!!!!...lol.

Mon, 02/11/2013 - 22:29 | Link to Comment trillion_dollar...
trillion_dollar_deficit's picture

Pay attention to the healthcare companies. People have no idea the shit storm coming down the pipe as a result of Obamacare. Talking medicare reimbursement levels or worse from commercial payors by 2020. That is absolutely catastrophic for providers. The entire healthcare delivery system will be beyond recognition in 10 years. 

Mon, 02/11/2013 - 22:38 | Link to Comment NoDebt
NoDebt's picture

It won't be the only part of the economy to be beyond recognition in 10 years.

It's pretty obvious that healthcare is getting sucked into the government vortex so I think they'll do OK.  And by "they" I mean the managements and boards that run them, not the investors and certainly not their clients.  They have guaranteed their survival by hitching up with big daddy, but that doesn't make them investable.  Who cares about "investors" when you really only have to keep one entity happy (the government).  Patients and clients.... don't make me laugh.  Back of the line, sheep.

 

Mon, 02/11/2013 - 23:08 | Link to Comment q99x2
q99x2's picture

All the increases will be calculated in as if poor people were going to cough up an additional 3,000 per year but they won't. They can't. BTW were do you buy a shit storm outfit? Sounds like a good business to get into.

Mon, 02/11/2013 - 22:34 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Kinda makes what one should do pretty obvious.  The only question is timing, and there are ways to mitigate that.

Mon, 02/11/2013 - 22:35 | Link to Comment Poor Grogman
Poor Grogman's picture

The flush out will be blamed on Dorner.

It was the best they could come up with at short notice...

Mon, 02/11/2013 - 22:53 | Link to Comment Sutton
Sutton's picture

When Sungard goes public,it's over.

Mon, 02/11/2013 - 22:55 | Link to Comment CheapBastard
CheapBastard's picture

But, "the price of Google never goes down," my realtor told me.

 

Oh, wait.

Mon, 02/11/2013 - 23:18 | Link to Comment rpholly
rpholly's picture

Insider sales happen all the time.  If there is an abnormally large amount of insider sales, i'll take notice.  Untill then, zzzzzzzz.

Mon, 02/11/2013 - 23:25 | Link to Comment Caviar Emptor
Caviar Emptor's picture

It's a 2009-10 flashback! Sort of. 

That was when secondaries were all the rage as a backdoor bailout to the corporate class while capital markets were still thawing. And junk bond offerings. Hence "mountains of cash on the balance sheet". 

Now its a new payday because, well, business has just been so good lately that they have to make it up somehow. Courtesy of uncle sugar and your wallet. 

Tue, 02/12/2013 - 00:50 | Link to Comment 401K of Dooom
401K of Dooom's picture

I think it is a sign that Google has jumped the shark.  Watch as Sergey and the other guy sell their shares in small bundles.  Just in time to move to that Pacific ocean island they are building as a hideaway.

Tue, 02/12/2013 - 04:59 | Link to Comment dunce
dunce's picture

The old question of if you are so smart why aren't you rich comes to mind. For every sale there must be a buyer. Schmitt is rich so he must be the smart one, so who is getting hosed here, who has all these billions to buy high? Is it the mutual funds looting their customers?

Tue, 02/12/2013 - 07:40 | Link to Comment working class dog
working class dog's picture

Obamacare happened when Santorum and push push in the George Bush passed the prescription drug bill . Why did they push this bill. To get lobbyist money from Verizon, GM, GE, IBM,XOM,CAT, DE all to unload thier retirees prescription drug costs on to joe suck face tax payor. Santorum even admitted "that was a mistake", which now gives GM 6 million dollars per year tax free for ever. This stunt Bush and the gubbament pukes passed was step one to  unload the working famillies and retirees (who built those companies) on to the tax payers via Medicaid etc.

Step 2 is coming now called austerity cut attempts to the same public safety nets. I say tax the everluvin shit out of the corps.

Tue, 02/12/2013 - 07:59 | Link to Comment devo
devo's picture

It has that feel doesn't it?

Tue, 02/12/2013 - 08:18 | Link to Comment Jason T
Jason T's picture

Aggregate hours worked in retail trade were lower in 2013 Vs 2012 ...and the trend is down.  will be a big miss tomorrow.

Tue, 02/12/2013 - 08:53 | Link to Comment IamtheREALmario
IamtheREALmario's picture

Someday, someone will have to give me an accurate definition of "retail".

It is obvious that the Fed and collusive banks are trying to force people to buy stocks by depressing interest rates, ramping inflation and marketing risky assets like there is no tomorrow (and maybe there will not be) ... but people? Which people actually have money to buy stocks in a quantity sufficient to fund entire new markets?

All money comes from debt. Who are the "retail"people who are borrowing to buy equities? What kind of morons are they? Maybe they are the same people who think drone strikes to murder innocent people in foreign lands is a good thing ... or that vaccines laden with live viruses that can be activated with radiation to cause cancer are good things (part of the plot to kill Castro involving Lee Harvey Oswald)

My guess it is not really retail. If it was retail the large international banks would not own over 70% fo the market and increasing.

Tue, 02/12/2013 - 14:03 | Link to Comment I did it by Occident
I did it by Occident's picture

So the Nash equibrium is starting to break down, and the big insiders are all on the trigger figuring out when to pull.  Pull too soon and the cat is out of the bag, pull too late, well it will be too late.  you gotta be first to sell your "assets" to the next guy before other paper separates Joe six pack from his cash first. 

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