With a 9.9% stake, Broadfin Capital is taking on the $30 million market cap Cardica (CRDC) – which is a medical equipment company.
Broadfin changed its stake from passive to active and notes that it has nominated six new candidates for the board and re-nominates three board members. This comes after it ran a campaign at CRDC in 2014 and got three board members on the board.
The activist is trying to add six board members becuase the board has failed to make any real positive changes since last year – noting that CRDC has valuable tech that needs to be realized.
The Talas Turkey Value Fund returned 9.5% net for the first quarter on a concentrated portfolio in which 93% of its capital is invested in 14 holdings. The MSCI Turkey Index returned 13.1% for the first quarter, while the MSCI All-Country ex-USA was down 5.4%. Background of the Talas Turkey Value Fund Since its inception Read More