Warrants being exercised is beating down SATC today. Good buying opportunity IMO.
Form 8-K for SATCON TECHNOLOGY CORP
11-Aug-2010
Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
On August 10, 2010, NGP Energy Technology Partners, L.P. ("NGP ETP") notified the Company that it was exercising warrants to acquire 8,098,127 shares of the Company's common stock. Because the warrants were exercised on a cashless "net settlement" basis, the Company issued 5,317,831 shares of its common stock in full settlement of the warrants. The Company has been advised that NGP ETP subsequently sold the shares of common stock in a single block transaction in compliance with Rule 144 under the Securities Act of 1933, as amended.
LDK up in premarket, but the small gap up will have a tough time holding with the overall market sentiment being down today. Still a hold and buy a strong dip below 7.