This should explain once and forever why the CLL SP price was pushed below the offering price of 90 cent, has stabilized and now is moving forward.

This legal option was given by the CLL management to underwriters as a form of payment for their involvement in this offerings. I hope that all these fantasies of conspiracy and manipulation by some posters can be put to rest.

PS. My post about the "boiler room" was presented in response to attacks on other posters and above all as a "joke" to show how easily it is to use your techniques to do what you do for most of the time on this board (it seems that you monitor all CLL boards 24/7) .

There was no personal attacks in my posts. In return (as I read this today) to describe your feelings you freely use nice complements like "ugly head " and more. I hope the peace will prevail especially that the CLL SP is gaining momentum.

Just the reminder: CLL offer had the over-allotment option of 25 million shares to participating institusions.

(From the PDP board):

The over-allotment option, also known as the greenshoe, allows the underwriter(s) the right to sell additional shares in a securities offering, if demand for the securities is in excess of the original amount offered The specifics of the greenshoe are outlined in the prospectus and can be up to 15% of the original number of shares offered and can be exercised up to 30 days after the first day of trading.

The over-allotment option enables the underwriter(s) to stabilize the price of a new issue post-pricing. What they want to avoid is a public offering trading below its offering price. This creates the perception of an unstable or undesirable offering which can lead to further selling and hesitant buying of the shares.

As a result, the underwriter(s) typically oversell (short) the offering by 15%. If the share price goes down, they can buy back the shares at a lower price and help stabilie the stock. If the share price goes up, they can exercise the greenshoe and buy the shares from the Company at the offer price and hence not incur a loss on the transaction.