Saturday, December 20, 2014 12:31:25 AM
The shares convert at 1.6 to 1.9 commons per share which puts them already at a loss seeing the PPS is $26.45 That makes up to a 25% loss.
Of course the underwriters took a discount and were able to profit right away as they dumped the shares on the market. And they have the option to dump more later if they want at the same discount.
So I am wondering if this form of financing is so "fake" why are huge companies doing the same thing?
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