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IGTE,UIS - Update on last week's Market Neutral Trade

11/12/2010 11:55 PM by Dave Pinsen

Long IGTE, short UIS:

http://steamcatapult.c...

Rating:
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  • 11/30/2010 02:01 PM by Dave Pinsen

    Rough day for IGTE today, down ~20% so far. In addition to the attempted acquisition news, I wonder if some are getting spooked by the proposed unit price in the company's S-3 ( http://sec.gov/Archive... ), which is below the current share price. The S-3 does note in a footnote on that price that,

    "With respect to the shares of common stock being registered hereunder, estimated pursuant to Rule 457(c) of the Securities Act of 1933, as amended, solely for the purpose of computing the amount of the registration fee, based upon the average of the high and low sale prices of iGATE Corporation’s common stock on October 19, 2010 on the NASDAQ Global Select Market."

    Still holding here.

    Rating:
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