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TOPIC: New Sabby SC 13-ownership filing

New Sabby SC 13-ownership filing 16 Jan 2015 12:04 #3208

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There is a new filing on Sabby ownership of cytx (published by Cytori)-

see attachment.

Now- how about I take a dog for a long long walk, and in the mean time somebody writes here how many voting shares Hal Mintz has at his disposal.

I still do not have a clue. :really:

File Attachment:

File Name: 13G-Sabby-16-01-2015.pdf
File Size: 39 KB
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

New Sabby SC 13-ownership filing 16 Jan 2015 23:08 #3209

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At face value...:

Sabby Healthcare Master Fund, Ltd. has 8,933,550 shares.
Sabby Volatility Warrant Master Fund, Ltd has 7,441,408 shares.
Sabby Management, LLC has 9,235,675 shares.

Since all 3 are controlled by Hal Mintz, he now controls 25,610,633 shares, or apparently 27.7% of Cytori, according to the filing.

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New Sabby SC 13-ownership filing 17 Jan 2015 06:24 #3210

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This is the year-end report apparently and states pretty much at the bottom:

As calculated in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended, (i) Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 8,933,550 and 7,441,408 shares of the Issuer's common stock ("Common Stock"), respectively, representing approximately 9.66% and 8.05% of the Common Stock, respectively, and (ii) Sabby Management, LLC and Hal Mintz each beneficially own 1,7,441,408 shares of the Common Stock, representing approximately 9.99% of the Common Stock. Sabby Management, LLC and Hal Mintz do not directly own any shares of Common Stock, but each indirectly owns 9,235,675 shares of Common Stock. Sabby Management, LLC, a Delaware limited liability company, indirectly owns 9,235,675 shares of Common Stock because it serves as the investment manager of Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Warrant Master Fund, Ltd., Cayman Islands companies. Mr. Mintz indirectly owns 9,235,675 shares of Common Stock in his capacity as manager of Sabby Management, LLC.


Besides the mess with the "1,7,441,408" number, which I presume should be "7,441,408", I presume the real number is simply- 8.933.550 and 7.441.408 added. This would be 16.374.958 or 17.71% of Cytori assuming (still) the 92 Mio OS as of year-end.

I thought the poison pill arrangement would come in force at 15% already- so this is weird. :whistle:

Unless of course they have things "legally arranged" that Mintz has "only" 9.9% voting power instead of the 17.7% which one calculates the voting power to be. :grin:

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New Sabby SC 13-ownership filing 17 Jan 2015 07:02 #3211

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The report filed on 10/15/2014, two days after settlement of the registration of the direct offering announced on October 8 looked as follows:

As calculated in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended, (i) Sabby Healthcare Volatility Master Fund, Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 7,193,857 and 6,108,793 shares of the Issuer's common stock ("Common Stock"), respectively, representing approximately 8.56% and 7.27% of the Common Stock, respectively, and (ii) Sabby Management, LLC and Hal Mintz each beneficially own 1,6,108,793 shares of the Common Stock, representing approximately 9.99% of the Common Stock. Sabby Management, LLC and Hal Mintz do not directly own any shares of Common Stock, but each indirectly owns 8,399,009 shares of Common Stock. Sabby Management, LLC, a Delaware limited liability company, indirectly owns 8,399,009 shares of Common Stock because it serves as the investment manager of Sabby Healthcare Volatility Master Fund, Ltd. and Sabby Volatility Warrant Master Fund, Ltd., Cayman Islands companies. Mr. Mintz indirectly owns 8,399,009 shares of Common Stock in his capacity as manager of Sabby Management, LLC.


Different numbers...in my view they cannot have changed unless the two directly holding Sabby funds added a few shares on the open market.... :KO:

Any opinions?


File Attachment:

File Name: 13G-sabby-15-10-2014.pdf
File Size: 39 KB
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

New Sabby SC 13-ownership filing 17 Jan 2015 07:19 #3212

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Fas
I agree it seems there has been a increase in holdings between the two reports.
As snapshots in time, we don't know what was sold (if any) and the rebought.
Given the massive volume day when the FDA gave its clearance to restart the ADVANCE trial one could speculate there was some churn but a overall increase in holdings. There has been some big buyers to the always ample supply and we know it hasn't all been short covering. One problem to this analogy that almost anyone can buy large blocks of a stock in the $0.40's.
:KO:

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New Sabby SC 13-ownership filing 17 Jan 2015 07:47 #3213

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One problem to this analogy that almost anyone can buy large blocks of a stock in the $0.40's.


Things are very weird and mysterious.

Although I do not hold much of Franshei´s short theories, you do have an advantage if you understand mentalities of people.

If KT Lim would have been a Dutchman, I am convinced that after spending 24 Mio on 8 Mio shares, he would have taken the opportunity to capture 40% of the Company or approx. 50 Mio shares for approx. the same price. I am sure he knows the value of the tech even better than I do. Since he is not Dutch but of Chinese ancestry- I am pretty baffled that he did not take this opportunity.

So I feel very uncomfortable still not knowing whats gonna happen short term with all that debt looming starting April and Hedrick and Girao basically being newbees in a sharkpond. :evil:

Time will tell as usual.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

New Sabby SC 13-ownership filing 17 Jan 2015 10:43 #3214

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I have been going with the theory that Mr Lim still has a bad taste in his mouth from the first deal with Cytori management that had to be immediately renegotiated for the second $12 million installment to be received. Understanding what went wrong their may give us our answer.

As for the shorts side...they are pros and we have bozos on our team. They cover to simply reapply at a lower price point and break a company.
We are again down to the wire and I expect again horrible pricing. Perhaps they think our results on 31 cardiac patients on a trial stopped due to adverse events and was kept secret for several months will save them. Did they keep this from K T Lim as well ???? Will anyone of value rush in to be part of such a company or will the same flippers make a offer that Cytori has no choice but to accept. In the mean time I expect to hear about another loan revamp with cash, shares and or warrants again given away !!!

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