Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: IntraLinks Holdings
So what: The stock has underperformed since the follow-on offering was announced Monday shortly before the market closed. Today's strength is a relief rally as investors learn the company has successfully raised the additional capital it needs.
Now what: The company sold 1,250,000 shares, and certain shareholders of IntraLinks sold an additional 6,250,000 shares, for a total of 7,500,000 shares. The company will use its share of the proceeds to pay down debt, which should reduce its substantial interest expense. However, the insider selling is a negative sign for a company that went public less than a year ago.
Interested in more info on IntraLinks Holdings? Add it to your watchlist by clicking here.
