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.
Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.