QUICK TAKE: Who Else Used a Cashless Exercise of his Cytodyn Options? (CYDY)
After the bell last night a Form 144 filing (available here) was released concerning everybody’s favorite pink sheet bioturd, the Creme de la Creme of Coronacrappers, Cytodyn (CYDY).In this one, Scott Kelly, the Chairman of the company (who unlike two of his predecessors is not suing the company – yet) details not only his sale of 1.2mm shares that we discussed last week here, but also how he paid for the shares. Hint: Not with any cash going to the company.That’s right, contrary to CEO Nader “The Nadir” Pourhassan’sbizarre explanations that he and Scott sold the stock to somehow fund the company (and SAVE LIVES! with magic leronlimab), Scott used the same cashless exercise feature that The Nadir employed. Something of a feather something together…
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