Tuesday, July 26, 2011

Nordlicht buys 3.3% of Optionable's Shares

Mark Nordlicht is once again an Optionable Insider.

On June 13th Mark Nordlicht issued a "Tender Offer" through which he agreed to purchase every share of Optionable that he did not already own. (He owned 9.5% of the company when he made the tender offer, and needed to get above 10% ownership in order to be considered an Insider)

On July 19th, the tender offer expired and Nordlicht purchased the 1,586,686 that had been offered for sale. The figure represented 3.3% of the company's shares bringing Nordlicht's ownership up to 12.8%

Nordlicht's interest in Optionable is pursuing legal actions against The Bank of Montreal, NYMEX (since purchased by CME) and undisclosed "others". It remains to be seen how (or if) Nordlicht's interest will gel with Optionable's current plans.