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 [10]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 [11]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. [12](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.
- [13]DryShips Inc. (DRYS [13]), 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 [14]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. [15](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) [16]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.