Loading ...I might be wrong on this, but my understanding of the Novo deal is that its simply a transfer of 4 m illion shares from Artemis (granted to them by Novo in August of 2017) to Kirkland at an exercisible price of US $3.86.
This latest purchase of shares by Kirkland ups their stake in Novo to just under 20% (19.5%) of outstanding shares. IMHO, this is not just throwing money around by Kirkland. I would hope that they’ve done their DD and have a pretty good idea of what Novo has. Admittedly, the execution on Novo’s part hasnt been good, but I think its a good opportunity to scoop a few shares here.