SPF Insiders Dumping Shares-Why?
Shortly after its CEO touted its recent offer as the foundation for SPF to grow in the future....
SPF filed an S-8 indicating that insiders are registering over 2.8 million shares to hopefully obtain proceeds over $9 million dollars.
Recently SPF announced a buyout deal that requires a permanent bank amendment and shareholder vote. The deal was announced over two weeks ago. To date there is no bank amendment and no proxy filed for shareholders to vote.
SPF recently informed convertible holders that it intended a rights offering to attach to shares on or about July 18th. If SPF wants to make that date a proxy will have to be sent out soon.....in addition there is a July 31st termination date with the investment fund.
Now CAPs most famous RE analyst who called SPF a five year call option dropped his green thumb rating. How do you drop a green thumb on a five year investment that you challenge others to find a better deal in the space?
Insiders registering to sell shares, no bank agreement, no proxy, and dropping a five year green thumb by CAPS best housing analyst.......what in the heck is going on?