Re: 50m Filing
in response to
by
posted on
Mar 18, 2013 11:09PM
Edit this title from the Fast Facts Section
We have entered into separate At-the-Market Issuance Sales Agreements with each of MLV and Brinson Patrick. Under the sales agreements we may issue and sell our common stock having aggregate sales proceeds of up to $50.0 million from time to time through MLV or Brinson Patrick, acting as our sales agents, subject to certain limitations, including the number of shares registered under the registration statement to which this prospectus supplement relates. The sales agreements have been filed as exhibits to our Annual Report on Form 10-K for the year ended December 31, 2012, which is incorporated by reference in this prospectus supplement. The sales, if any, of shares made under the sales agreements will be made by any method that is deemed an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act, including by means of ordinary brokers’ transactions at market prices, in negotiated transactions or as otherwise agreed by the applicable Agent and us. We may instruct the applicable Agent not to sell common stock if the sales cannot be effected at or above the price designated by us from time to time. We or the applicable Agent may suspend the offering of common stock upon notice and subject to other conditions. As an agent, neither MLV nor Brinson Patrick will engage in any transactions that stabilize the price of our common stock.
(my point is this does not mean they are doing in tomorrow. perhaps they just want to be ready to take advantage of higher shares prices)