INVX

PE sales of $INVX
This is actually quite revealing:
29.37M original shares
↓
6.61M sold in February
↓
5.00M being sold now
↓
17.76M remaining

There’s another important detail: Amberjack still retains board-designation rights. Under the stockholders’ agreement, its board rights change as its ownership falls through certain thresholds. At 30%+ it has the right to designate three directors; at 20–30%, that falls to two.

$INVX is 33% owned by a PE that facilitated the merger of Dril-Quip and Innovex. The PE got a sweet deal out of the merger. The merger was to use DRIL-Quip as a means to go public which it was unable to do by itself. The only winner was the PE! The loser was Dril-Quip which was a company that should have never accepted the merger. DRIL-Quip senior management destroyed the company and then sold out for a cash exit (golden parachute). DRIL-Quip was a great company with an incredible history. Note beware of a PE and management that truly does not know the core business. IMHO.