Friday, December 11, 2015 9:21:20 AM
Unfortunately underwriters aren't available to pinkies and the fees an expert trader would charge to more smoothly move shares into the market, would not be reasonable to pay. Since, at these low prices, too many more shares would have to be added just to cover those fees. Things are pretty darned well dicey for pinkie all around.
A private placement would have been better, you sell the shares to a willing holder with the understanding that you'll buy them back by a date, or the holder gets to sell all or part of them off, or at an agreed upon rate, on and on. Unfortunately such options aren't always available and less so for pinkies. So, as it stands, they came to market with their big deal and investors stepped up to the plate. That's about all it amounts to so far.
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