Cadus Corporation (OTC:KDUS) is an interesting play, but not without hairs on it. First, the good news: It’s trading at a discount to net cash with Carl Icahn disclosing an activist holding in 2002, and Moab Capital Partners disclosing an activist holding more recently. At its $1.51 close yesterday, the company has a market capitalization of [...]
Posts Tagged ‘Net Cash Stock’
Cadus Corporation (OTC:KDUS)
Posted in Activist Investors, Cadus Corporation (OTC:KDUS), Carl Icahn, Net Cash Stocks, Net Net Stocks, Special Situation, Stocks, tagged Activist investment, Cadus Corporation (OTC:KDUS), Carl Icahn, Liquidation Value, Moab Capital Partners, Net Cash Stock on September 29, 2009 | 7 Comments »
Capstone Therapeutics (NASDAQ:CAPS) position exited
Posted in Biotechnology Value Fund, Net Cash Stocks, OrthoLogic Corporation (NASDAQ:CAPS), Stocks, tagged Net Cash Stock, OrthoLogic Corporation (NASDAQ:CAPS) on September 17, 2009 | Leave a Comment »
We’ve decided to exit our position in OrthoLogic Corporation (NASDAQ:CAPS) at its $0.90 close yesterday. We opened the position at $0.60, so we’re up 50% on an absolute basis. The S&P500 Index closed at 752.83 on February 27, the day we opened the position, and closed yesterday at 1,068.76, which means we’re up 8.0% on [...]
DITC agrees to nominate Lamassu representatives to the board; Greenbackd exits
Posted in Activist Investors, Ditech Networks Inc (NASDAQ:DITC), Lamassu Holdings LLC, Stocks, tagged Activist investment, Ditech Networks Inc (NASDAQ:DITC), Liquidating Value, Net Cash Stock on September 14, 2009 | Leave a Comment »
The board of Ditech Networks Inc (NASDAQ:DITC) has agreed to nominate Lamassu Holdings’ representatives, Alan B. Howe and Frank J. Sansone, to be elected to the board at DITC’s next annual meeting. It seems that the board’s concern in nominating Howe and Sansone was that they not participate in any “withhold the vote” campaign or [...]
VXGN investors form “VaxGen Full Value Committee” to conduct proxy fight
Posted in Activist Investors, Net Cash Stocks, Spencer Capital Management, Stocks, VaxGen Inc (OTC:VXGN), tagged Activist investment, Liquidation Value, Net Cash Stock, VaxGen Inc (OTC:VXGN) on September 10, 2009 | 9 Comments »
A group of investors in VaxGen Inc (OTC:VXGN) have formed the “VaxGen Full Value Committee” to conduct a proxy contest to replace the current board of VXGN at the next annual shareholders meeting. The group, comprising BA Value Investors’ Steven N. Bronson and ROI Capital Management’s Mark T. Boyer and Mitchell J. Soboleski, intends to [...]
Guest Post: Aspen Exploration Corporation (OTC:ASPN)
Posted in Aspen Exploration Corporation (OTC:ASPN), Net Cash Stocks, Net Net Stocks, tagged Aspen Exploration Corporation (OTC:ASPN), Liquidation Value, Net Cash Stock on September 3, 2009 | 12 Comments »
We were going to stay away until after Labor Day, but this is too good to miss. From reader MCN1 on Aspen Exploration Corporation (OTC:ASPN): Company Name: Aspen Exploration Corporation Ticker: ASPN Market Cap: $6.53M (as of 9/2/09) Stock Price: $0.90 (as of 9/2/09) Company Overview: Aspen Exploration Corporation is engaged in the exploration and [...]
AVGN releases terms of MNOV deal; Shareholder launches class action
Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged Activist investment, Avigen Inc (NASDAQ:AVGN), Biotechnology Value Fund, Liquidation Value, Net Cash Stock on August 27, 2009 | Leave a Comment »
Although we closed our position in Avigen Inc (NASDAQ:AVGN) earlier this week, we’re keeping a watching brief on the stock. AVGN has now filed with the SEC the terms of the deal with MediciNova Inc (NASDAQ:MNOV), and they’re not as bad as the earlier report seemed to suggest. The deal has, however, attracted the ire [...]
MNOV to acquire AVGN for $1.24 per share; Greenbackd exits
Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged Activist investment, Avigen Inc (NASDAQ:AVGN), Biotechnology Value Fund, Liquidation Value, Net Cash Stock on August 24, 2009 | 1 Comment »
MediciNova Inc. (NASDAQ:MNOV) will acquire Avigen Inc (NASDAQ:AVGN) for $1.24 per share in cash or secured convertible notes. While the stock is trading at a slight premium to the bid, we’re taking the opportunity to exit. AVGN closed Friday at $1.29, which means we’re up 98.5% on an absolute basis. The S&P500 was at 816.21 [...]
Spencer Capital leads charge against VXGN board
Posted in Activist Investors, Net Cash Stocks, Spencer Capital Management, Stocks, VaxGen Inc (OTC:VXGN), tagged Activist investment, Liquidation Value, Net Cash Stock, VaxGen Inc (OTC:VXGN) on August 21, 2009 | 14 Comments »
Spencer Capital has filed preliminary proxy documents to remove the board of VaxGen Inc (OTC:VXGN). In the documents, Spencer Capital, which leads a group of investors calling themselves “Value Investors for Change,” call out VXGN’s board on its “track record of failure and exorbitant cash compensation”: VaxGen does not have any operations, other than preparing [...]
Avigen Inc (NASDAQ:AVGN) Q2 10Q update
Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged Activist investment, Avigen Inc (NASDAQ:AVGN), Biotechnology Value Fund, Liquidation Value, Net Cash Stock on August 18, 2009 | Leave a Comment »
Avigen Inc (NASDAQ:AVGN) has filed its 10Q for the period ended June 30, 2009. One interesting aspect of the 10Q is the cost the company attributes to responding to the proxy fight and hostile tender offer: Operating Activities. Net cash used in operating activities was $8.2 million during the six months ended June 30, 2009. [...]
Steel Partners ups stake in COSN
Posted in Activist Investors, CoSine Communications Inc (OTC:COSN), Net Cash Stocks, Steel Partners, Stocks, tagged Activist investment, CoSine Communications Inc (OTC:COSN), Liquidation Value, Net Cash Stock on August 17, 2009 | Leave a Comment »
Steel Partners has increased its holding in CoSine Communications Inc (OTC:COSN) from 44.9% to 47.5% at an average purchase price of $1.97 per share according to the fund’s most recent 13D notice. We’ve been following COSN (see our COSN post archive) because it is a cash box controlled by activist investor Steel Partners. Steel Partners [...]
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