Benzinga's Small Cap Movers for Monday November 19, 2012

Loading...
Loading...
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Grupo Casa Saba
Shares of Grupo Casa Saba
SAB
, the Mexican distributors of pharmaceutical products, beauty aids, personal care and consumer goods, general merchandise and publications, rose 11% Monday on 69 times average volume. Grupo Casa Saba, S.A.B. de C.V. announced Thursday its intention to delist its American Depositary Shares from the New York Stock Exchange. GCS intends to file a Form 25 with the SEC to effect the delisting from the NYSE on or about November 26, 2012. The delisting will become effective 10 days later. GCS will concentrate all trading of its ordinary shares on the Bolsa Mexicana de Valores in Mexico and will be terminating its current ADS program. GCS has made a number of acquisitions over the last four fiscal years, and it has faced difficulties in integrating these businesses into its financial reporting structure, with the result that its auditors have issued qualified audit reports in three of the last four fiscal years. In determining to delist its ADSs, GCS has taken into account the low trading volume of its ADSs on the NYSE, and the associated costs of maintaining the listing and related obligations, including the increased complexities arising from its recent acquisitions. Grupo Casa Saba closed at $3.73 on Monday.
BioTime
Shares of BioTime
BTX
, the Alameda, CA a biotechnology company, rose 15% Monday on 4 times average volume. BioTime and its recently formed subsidiary BioTime Acquisition Corporation (BAC) jointly announced Thursday that they entered into a non-binding letter of intent for a $10 million investment from a private investor to provide financing for the recently announced proposed acquisition of Geron Corp.'s stem cell assets by BAC. Under the terms outlined in the letter of intent, the investor will invest $5 million in BioTime by purchasing 1.35 million BioTime common shares at a purchase price of approximately $3.70 per share, and warrants to purchase 650,000 additional BioTime common shares with an exercise price of $5 per share and a three year term.Prana Biotechnology Metals closed at $3.51 on Monday.
Good Times Restaurants
Shares of Good Times Restaurants
GTIM
, the Golden, CO owner, operater, and franchiser of hamburger-oriented drive-through restaurants, rose 27% Monday on 18 times average volume. There was no news to account for the move in Good Times Restaurants. The stock frequently makes moves of this nature. Good Times Restaurants closed at $2.11 on Monday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
Loading...
Loading...
Posted In: Long IdeasNewsShort IdeasSmall CapGlobalAfter-Hours CenterMoversTrading IdeasSmall caps
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...