SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Strategies & Market TrendsSpeculating in Takeover Targets


Previous 10 Next 10 
To: E_K_S who wrote (6020)11/16/2020 9:48:19 AM
From: richardred
1 Recommendation   of 6102
 
The company has been battling AGS. AGS offered informal bids to buy the company, The last one @ 7.00. AGS has been claiming the directors have wasted the company resources on actions such as the 8.80 company buy back. AGS also claims the board is not doing enough to enhance shareholder value. AGS has sent responses to the board how they could do more.

I'm assuming they filed as a protection to cover their jobs? The company IMO has delivered very good earnings, but hasn't in stock price appreciation. A Director finally bought some stock over 6 dollars of late.

Share RecommendKeepReplyMark as Last Read


To: richardred who wrote (5556)11/17/2020 12:53:32 PM
From: richardred
   of 6102
 

Interesting! How things do change!

AXT Announces Strategic Plan to Access China’s Capital Markets

Subsidiaries Take First Step Towards an IPO in China
Private Equity Round Underway

  • Process initiated to list shares of subsidiary, Tongmei, on China’s STAR Market
  • Two raw material companies to be merged into Tongmei
  • Definitive agreements executed for initial private placement of shares of Tongmei to meet listing requirements
  • AXT to maintain its Nasdaq listing; its Fremont, Calif. headquarters; and its focus on global opportunities
  • Conference call to discuss the announcement today at 2:30 pm PT. Details included in this release
  • FREMONT, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today announced a strategic plan to access China’s capital markets in order to enhance its ability to support at scale the strong, expected demand for strategic compound semiconductor materials and to continue to elevate its business and manufacturing operations in support of Tier-1 customer requirements, as well as to replenish its cash with minimal dilution and further strengthen its financial structure.

    AXT plans to merge two of its raw material companies into its wafer manufacturing company in China, Beijing Tongmei Xtal Technology Co., Ltd. (“Tongmei”), subject to completion of definitive documentation and applicable laws. The two raw material companies, Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd. (“BoYu”) and Nanjing JinMei Gallium Co., Ltd. (“JinMei”), and their related entities in China are performing well and add breadth of product diversity to Tongmei.

    AXT will seek to list shares of Tongmei on the Shanghai Stock Exchange’s Sci-Tech innovAtion boaRd (the “STAR Market”), an exchange intended to support innovative companies in China. The process of going public on the STAR Market includes several periods of review and, therefore, is a lengthy process. Tongmei does not expect to accomplish this goal until mid-2022.

    The listing of Tongmei on China’s STAR market will not change the status of AXT, Inc. as a U.S. public company. It is a U.S. company, headquartered in Fremont, California. It will continue to be listed on the Nasdaq Global Select Market under the symbol AXTI.

    To qualify for a STAR Market listing, Tongmei is required to have multiple independent shareholders. The first major step in this process is engaging reputable private equity firms in China to invest funds in Tongmei. In exchange for approximately a 7.14 percent minority interest in Tongmei, private equity firms will invest approximately $50 million. The first tranche investment documents were executed on November 13, 2020 in China and the first tranche of approximately $22.5 million is expected to be received in late November or early December 2020. The second tranche of approximately $26.5 million is expected to fund in January 2021. The second tranche investment documents have not yet been executed. AXT’s ability to retain these investments is contingent upon a successful completion of the STAR Market listing. Tongmei would be required to sell a minimum of 10 percent of its equity in the public offering, bringing the total minority interest held publicly to approximately 17.14 percent, or greater if Tongmei elects to increase the offering above 10 percent.

    “Pursuing a listing on the STAR Market gives us the ability to replenish our cash and increase our market value for our shareholders with minimal dilution,” said Morris Young, chief executive officer. “Further, the additional capital will strengthen our ability to compete for larger business opportunities. We have largely completed the relocation of our manufacturing lines and now our market-leading portfolio of materials is intersecting with what we believe to be some of the biggest, most influential technology trends of the next decade, such as 5G telecommunications, data center connectivity, LED-based lighting and display, and laser-based sensing. In addition to these opportunities, we believe new applications across our portfolio are creating exciting incremental opportunities on the horizon. Strengthening our balance sheet can give our customers greater confidence in our ability to support at scale the strong, expected demand for our strategic compound semiconductor materials.”

    BoYu manufactures pyrolytic boron nitride (pBN) crucibles that are used when growing single-crystal compound semiconductor ingots and used as effusion rings growing OLED tools. JinMei produces 7N+ purified gallium and other specialty materials.

    “The combination of AXT’s wafer manufacturing with BoYu’s and JinMei’s products and capabilities presents a compelling and well-rounded business model,” Young continued. “They synergistically serve a diverse set of customers and markets, providing world-class materials to the semiconductor industry. We believe that the convergence of a strong market opportunity with state-of-the-art manufacturing capabilities and a diverse portfolio of products will make Tongmei an attractive company for the STAR Market and create incremental value for our shareholders.”

    Conference Call

    The company will host a conference call to discuss these results today at 2:30 p.m. PT. The conference call can be accessed at (844) 892-6598 (passcode 7117157). The call will also be simulcast at www.axt.com. Replays will be available at (855) 859-2056 (passcode 7117157) until, November 22, 2020. Additional investor information can be accessed at axt.com or by calling the company’s Investor Relations Department at (510) 438-4700.

    About AXT, Inc.

    AXT is a material science company that develops and manufactures high-performance compound and single element semiconductor substrate wafers comprising indium phosphide (InP), gallium arsenide (GaAs) and germanium (Ge). The company’s substrate wafers are used when a typical silicon substrate wafer cannot meet the performance requirements of a semiconductor or optoelectronic device. End markets include 5G infrastructure, data center connectivity (silicon photonics), passive optical networks, LED lighting, lasers, sensors, power amplifiers for wireless devices and satellite solar cells. AXT’s worldwide headquarters are in Fremont, California where the company maintains its sales, administration and customer service functions. AXT has manufacturing facilities in China and, as part of its supply chain strategy, has partial ownership in ten companies in China producing raw materials. For more information, see AXT’s website at axt.com.

    Forward-Looking Statements

    The foregoing paragraphs contain forward-looking statements within the meaning of the Federal securities laws, including, for example, statements regarding AXT’s plan to merge Tongmei, its wafer manufacturing company in China, with Boyu and Jinmei, Tongmei receiving the first tranche of private equity investment funds, signing investment documents to secure the second tranche of private equity investment funds into Tongmei and subsequently receiving such funds, completing other preliminary steps in connection with the proposed listing of shares of Tongmei on the STAR Market, being accepted to list shares of Tongmei on the STAR Market and the timing and completion of such listing of shares of Tongmei on the STAR Market. Additional examples of forward-looking statements include statements regarding the market demand for our products, our growth prospects and opportunities for continued business expansion, including technology trends and new applications, our market opportunity and ability to compete for business opportunities, elevating our manufacturing, enhancing our business processes and financial structure, our relocation and our expectations with respect to our business prospects and financial results. These forward-looking statements are based upon assumptions that are subject to uncertainties and factors relating to the company’s operations and business environment, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include, but are not limited to: the tax and legal consequences of merging Tongmei with Boyu and Jinmei, the lack of interest of private equity funds in China to invest in Tongmei, the withdrawal, cancellations or requests for redemptions by private equity funds in China of investments in Tongmei, the timing of receipt of private equity funds into Tongmei, the administrative challenges in satisfying the requirements of various government agencies in China in connection with the investments in Tongmei and the listing of shares of Tongmei on the STAR Market, continued open access to companies to list shares on the STAR Market, investor enthusiasm for new listings of shares on the STAR Market and geopolitical tensions between China and the United States. Additional uncertainties and factors include, but are not limited to, the timing and receipt of significant orders; the cancellation of orders and return of product; emerging applications using chips or devices fabricated on our substrates; end-user acceptance of products containing chips or devices fabricated on our substrates; our ability to bring new products to market; product announcements by our competitors; the ability to control costs and improve efficiency; the ability to utilize our manufacturing capacity; product yields and their impact on gross margins; the relocation of manufacturing lines and ramping of production; possible factory shutdowns as a result of air pollution in China; COVID-19 or other outbreaks of a contagious disease; tariffs and other trade war issues; the financial performance of our partially owned supply chain companies; policies and regulations in China; and other factors as set forth in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company’s control. The company does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.

    Contacts:
    Gary Fischer
    Chief Financial Officer
    (510) 438-4700

    Leslie Green
    Green Communications Consulting, LLC
    (650) 312-9060

    Share RecommendKeepReplyMark as Last Read


    From: richardred11/19/2020 12:23:21 PM
       of 6102
     
    A new buy today- CNDT- Conduent. I will join Carl Icahn @ 4.07. I never like the name change from this once part of Xerox company Current portfolio 75% cash 25% equity. Carl is selling his Caesars Entertainment and buying more XEROX. Xerox's try to buy HP ended in failure. CNDT seems an under the radar company now. The last Qtr. earnings for CNDT & XRX seemed quite good. Carl needs to make up for the Hertz debacle.

    P.S.

    Message 32435359

    Message 32435182

    Message 30331013

    Share RecommendKeepReplyMark as Last Read


    To: richardred who wrote (6003)11/19/2020 1:02:40 PM
    From: richardred
       of 6102
     
    Harbert very unhappy. Will they keep buying more shares?

    Harbert Discovery Fund Issues Letter to Enzo Biochem Board of Directors
    Email Print Friendly Share
    November 18, 2020 13:00 ET | Source: Harbert Management Corporation
    BIRMINGHAM, Ala., Nov. 18, 2020 (GLOBE NEWSWIRE) --

    Elazar Rabbani, Dov Perlysky, Rebecca Fischer,

    We are writing to demand Elazar Rabbani immediately resign as CEO and from the Board of Directors (the “Board”) of Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”). Harbert Discovery Fund, LP and Harbert Discovery Co-Investment Fund I, LP (collectively “HDF”) currently own approximately 11.74% of the outstanding shares of Enzo, making us the Company’s largest shareholder.

    As you will recall, despite your attempts to further entrench the Board during the last proxy campaign, shareholders overwhelmingly voted to elect Fabian Blank and Pete Clemens as directors on February 25, 2020 largely because of their desire to see change at Enzo. Shareholders voted for Pete and Fabian because of the Company’s long history of underperformance, significant share price declines, and disillusionment with a management team that clearly places its own interests ahead of shareholders. It is no surprise that the fundamental results began to improve after Pete and Fabian joined the Board. Based on the timing and unexpected nature of Fabian and Pete’s resignations, it appears that Chairman and CEO Rabbani has created such an extremely hostile environment that Pete and Fabian found their position untenable as minority members in opposition to Mr. Rabbani’s continued mismanagement.

    Upon disclosing the resignations of Pete and Fabian, Enzo announced that preliminary revenue for fiscal Q1 exceeded $27 million, the highest revenue quarter the Company has achieved in years. Enzo is clearly benefitting from the increased demand for COVID-19 testing, and we expect this dynamic to continue. It speaks volumes that despite the positive revenue news, shares traded down around 2.5%.

    This trading behavior clearly reflects shareholders’ fundamental distrust and frustration with management and the remaining directors. This decline extended the shares year-to-date declines to -25%. Conversely, other public companies benefitting from COVID-19 testing have generated outsized shareholder returns in 2020. Opko, LabCorp, and Quest Diagnostics generated 2020 year-to-date shareholder returns of 169%, 21%, and 19%, respectively. For Enzo, 2020 is a continuation of a long-history of dramatic underperformance.



    Total Shareholder Return
    YTD1 Year3 Year5 Year10 Year20 Year
    LabCorp21.0%19.4%36.2%65.9%151.7%448.8%
    Quest18.6%21.5%41.9%101.7%195.5%490.9%
    Opko169.4%165.8%(16.6%)(63.2%)37.6%(50.2%)
    Average69.7%68.9%20.5%34.8%128.2%296.5%
    Enzo(24.7%)(31.7%)(78.5%)(56.0%)(52.7%)(93.7%)


    Note: Data per Bloomberg as of November 17, 2020.

    Elazar Rabbani has controlled and mismanaged Enzo for over 40 years. He has consistently paid himself bonuses in spite of negative shareholder returns, he has overseen numerous conflicts of interest, and he has failed to create shareholder value. We have spoken with numerous former employees and not a single one has anything positive to say about his leadership or character. There is a consistent theme that he cares more about maintaining control of the Company than supporting his employees, or creating value for shareholders.

    Enough is enough. It is time for the remaining “independent” directors to demand Elazar’s immediate resignation. Upon his resignation, the Company should immediately pursue a sale. M&A multiples are increasing, based on the current demand for lab assets. We believe at a minimum the Company could realize 2x revenues in a sale. Based on recently announced run-rate Q1 fiscal 2021 revenue, that would result in $5.51 per share, or 178% upside from current levels. This is clearly a better option for shareholders than continuing with the current status quo, where even positive fundamental results send the stock down as a result of the extreme and justified distrust of Elazar Rabbani. It is worth noting that the Company has not updated shareholders on the status of its engagement with Lazard since January of 2020. We believe they deserve an update.

    Investors are left to ponder what independent directors Perlysky and Fischer stand to benefit from Elazar’s continued entrenchment. Evidently, they have placed their own interest in furthering Elazar’s unscrupulous behavior and self-dealing ways ahead of thousands of individual and institutional investors.

    We hope that recently added director Mary Tagliaferri is truly independent and capable of an unbiased assessment of Enzo’s management. Time will tell.

    Should directors Perlysky and Fischer refuse to recognize the mandate for change from shareholders and exhibit a preference for systemic cronyism, then at a minimum we request that the Board hire an independent, reputable law firm to investigate Elazar’s various conflicts.

    Shareholders deserve better. You can do better. It is a shame and blight on your and Enzo’s reputations that you won’t.

    Sincerely,

    Harbert Discovery Fund, LP

    Harbert Discovery Co-Investment Fund I, LP

    Kenan Lucas, Managing Director and Portfolio Manager of Harbert Discovery Fund GP, LLC and Harbert Discovery Co-
    Investment Fund I GP, LLC

    Important Disclosure

    THIS STATEMENT CONTAINS OUR CURRENT VIEWS ON THE VALUE OF SECURITIES OF ENZO BIOCHEM, INC. (“ENZO”). OUR VIEWS ARE BASED ON OUR ANALYSIS OF PUBLICLY AVAILABLE INFORMATION AND ASSUMPTIONS WE BELIEVE TO BE REASONABLE. THERE CAN BE NO ASSURANCE THAT THE INFORMATION WE CONSIDERED IS ACCURATE OR COMPLETE, NOR CAN THERE BE ANY ASSURANCE THAT OUR ASSUMPTIONS ARE CORRECT. WE DO NOT RECOMMEND OR ADVISE, NOR DO WE INTEND TO RECOMMEND OR ADVISE, ANY PERSON TO PURCHASE OR SELL SECURITIES AND NO ONE SHOULD RELY ON THIS STATEMENT OR ANY ASPECT OF THIS STATEMENT TO PURCHASE OR SELL SECURITIES OR CONSIDER PURCHASING OR SELLING SECURITIES. THIS STATEMENT DOES NOT PURPORT TO BE, NOR SHOULD IT BE READ, AS AN EXPRESSION OF ANY OPINION OR PREDICTION AS TO THE PRICE AT WHICH ENZO’S SECURITIES MAY TRADE AT ANY TIME. AS NOTED, THIS STATEMENT EXPRESSES OUR CURRENT VIEWS ON ENZO. OUR VIEWS AND OUR HOLDINGS COULD CHANGE AT ANY TIME WITHOUT NOTICE AND WE MAKE NO COMMITMENT TO UPDATE THIS STATEMENT IN THE EVENT OUR VIEWS OR HOLDINGS CHANGE. INVESTORS SHOULD MAKE THEIR OWN DECISIONS REGARDING ENZO AND ITS PROSPECTS WITHOUT RELYING ON, OR EVEN CONSIDERING, ANY OF THE INFORMATION CONTAINED IN THIS STATEMENT.

    About Harbert Discovery Fund (HDF)

    HDF invests in a concentrated portfolio of publicly traded small capitalization companies in the US and Canada. We perform significant due diligence on each portfolio company prior to investing. In addition to researching all publicly available information and meeting with management, our diligence includes substantial primary research with industry experts, consultants, bankers, customers and competitors. We often spend months or years researching ideas before making an investment decision and we only invest in companies that we believe are significantly undervalued, and where there is the potential for change to enhance or accelerate value creation. In an effort to unlock this potential value, we seek to work directly with the boards and management teams of our portfolio companies privately and collaboratively, engaging with them on a range of factors including governance, board composition, corporate strategy, capital allocation, strategic alternatives and operations. We have effected positive, fundamental changes at our current and past investments through this behind-the-scenes,
    constructive approach. HDF currently has board representation at three of our portfolio companies. In each case, changes to the board were agreed upon privately and it is our strong preference in every investment to avoid the unnecessary distractions and costs of a public proxy campaign.

    About Harbert Management Corporation (HMC)

    HMC is an alternative asset management firm with approximately $7.4 billion in regulatory assets under management as of October 31, 2020. HMC currently sponsors eight distinct investment strategies with dedicated investment teams. Additional information about HMC can be found at www.harbert.net.

    HMC Investor Relations
    Telephone: 205.987.5500
    E-mail: irelations@harbert.net

    globenewswire.com

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: richardred who wrote (6024)11/29/2020 5:44:55 PM
    From: richardred
       of 6102
     
    There back!

    Share RecommendKeepReplyMark as Last Read


    From: richardred12/9/2020 11:56:47 AM
    1 Recommendation   of 6102
     
    An old favorite (MTSC) in my early years. I don't forget companies that were very good to me. MTSC get a buyout bid.

    Amphenol Corp. to Acquire MTS Systems for $1.7 Billion
    BY MT Newswires
    — 9:52 AM ET 12/09/2020

    Share RecommendKeepReplyMark as Last Read


    To: richardred who wrote (5842)12/11/2020 9:34:29 AM
    From: richardred
       of 6102
     
    IMO a very stingy takeout price. It will be interesting to see if there's a shop around clause? IMO Perfect fit for privately held Otter Box.

    Zagg Agrees to be Acquired by Evercel-Led Group For Up to $4.45 a Share
    BY MT Newswires

    — 9:28 AM ET 12/11/2020

    P.S.
    To: Touching who wrote (56691)1/19/2016 12:18:41 PM
    From: richardred of 65671
    Thanks for the opinion. I believe Privately held Otter Box is a good gauge as a top competitor. Both this company and Otter Box have grown through acquisitions. I believe the cell phone protective case and glass market will be a good growth market going forward. (New & replacement market)
    If the PE remains 11 or below. While margins and cash flow hold, or expand moving forward. IMO it should also increase the M&A speculative appeal of this company.


    Message 30414646

    Share RecommendKeepReplyMark as Last Read


    To: richardred who wrote (5595)12/14/2020 9:51:18 AM
    From: richardred
    1 Recommendation   of 6102
     
    The fisherman becomes the fish!

    AstraZeneca's $39 Billion Acquisition of Alexion Represents 'Full, Fair Price,' Wedbush Says

    MT Newswires – 9:20 AM ET 12/14/2020

    From: richardred10/17/2019 7:20:12 AM

    of 6027
    Alexion Agrees to Acquire Biopharma Firm Achillion in $930 Million Cash Deal
    BY MT Newswires
    — 1:28 PM ET 10/16/2019


    To: richardred who wrote (3894)5/6/2015 9:31:20 AM
    From: richardred of 6027
    What a premium for a company with no products on the market.

    Alexion Pharma to pay $8.4 billion for Synageva BioPharma

    Alexion Pharmaceuticals will pay a huge premium to buy fellow rare disease treatment maker Synageva BioPharma in an $8.4-billion deal for a company with no products on the market.

    Shares of Synageva more than doubled in value before markets opened Wednesday and after Alexion said it will pay $115 in cash and a portion of its stock for each Synageva share. That puts the total per-share price at about $226, based on the Tuesday closing price of Alexion shares.

    That's a premium of about 136 percent to the $95.87 closing price Tuesday of Synageva BioPharma Corp. shares.

    finance.yahoo.com

    Share RecommendKeepReplyMark as Last Read


    From: richardred1/27/2021 1:11:12 PM
    1 Recommendation   of 6102
     
    For the first time in 44 years. Been out of the market completely on Jan 18.

    GME- Time for a stock offering. :+ ) Today was kinda unique that social media could target heavily shorted stock without any justifiable fundamentals. What could go wrong! I guess we will find out. To bee sure. There will be money made and money lost.

    P.S. Had plenty of good ice cream this past year, and even the whip cream to go with it. I'm not going to wait around for the cherry on TOP. Good luck to those who are still long. As I've said before. IMO the boy scout saying still applies. " Always Be Prepared." Meanwhile, make money and prosper!

    Rick

    Share RecommendKeepReplyMark as Last ReadRead Replies (2)


    To: richardred who wrote (6029)1/28/2021 12:36:40 PM
    From: richardred
       of 6102
     
    Well that didn't take long. After the enormous task of moving my desk into the desk in the basement for my future trading room. Along with hooking up the desktop and a bundle of wires. Plus my lack of enthusiasm to buy something new in current market conditions. I've been checking over the many watch list I have. Taking a stab again at GNE-GENIE ENERGY .

    I've owned it before,two successful prior trades on this one but from my prior ownership. It's much better off financially and has a nice dividend yield to go along with it. Being in the utilities sector. IMO- It fits my Retired investor trader selection quite well I think.Because of my many small cap investments. FWIW- I found it quite a task to liquidate my portfolio completely to mitigate my risk in retired life. Sure I didn't maximize my potential gains, in many stocks but No regrets-

    P.S.
    Message 28866276
    Message 31050692

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)
    Previous 10 Next 10