Stock Movers on Equity Offerings (ENTR, AIB, CSKI, MHR)

Entropic Communications, Inc. (NASDAQ:ENTR) rose 4% to $10.19 and made a new 52-week high of $10.35 after it  announced that they have priced a 10,750,000 common offering at $9.70 per share. The offering is expected to close on October 5, 2010. Underwriters have been granted a 30-day window to purchase up to 1,612,500 shares to cover any over-allotments.

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Allied Irish Banks, plc. (ADR) (NYSE:AIB)  fell 9.20% to $1.49 after Irish Financial Regulator have increased the amount of equity capital required at the bank from EUR7.4 billion to EUR10.4 billion. As a results, Allied Irish Banks is launching a EUR5.4 billion equity capital raising in November, will be completed before the end of the year.

This equity capital raising will be fully underwritten by the National Pensions Reserve Fund Commission (NPRFC) at a fixed price of EUR0.50 per new ordinary share, which represents a discount of approximately 9.4 per cent to the official closing price of an ordinary share on the Irish Stock Exchange on 29 September 2010.

China Sky One Medical, Inc. (NASDAQ:CSKI) rose 4.40% to $7.36 after it   filed a registration with the U.S. Securities and Exchange Commission today to sell, from time to time, up to 1,597,809 shares of Common Stock on behalf of Selling Shareholders.

The shares of common stock being offered include an aggregate of up to 593,800 shares of common stock issuable upon exercise of outstanding warrants issued in the private placement China Sky One consummated in January 2008, of which CSKI will receive proceeds from.

Knightsbridge Tankers Limited (NASDAQ:VLCCF) announced that they have priced a 4,250,000 common offering at $19.00 per share.

BofA Merrill Lynch is acting as the bookrunning manager and DnB NOR Markets and Nordea Markets are acting as co-managers for the offering. The Company has granted the underwriters a 30-day option to purchase up to 637,500 additional shares to cover overallotments.

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Magnum Hunter Resources Corporation (AMEX:MHR) rose 1.21% to $4.19 after it filed a registration with the U.S. Securities and Exchange Commission today to sell, from time to time, up to $250 million of Debt Securities, Guarantees of Debt Securities, Common Stock, Preferred Stock, Depositary Shares, Warrants, or any combination thereof.

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