Delcath Systems Inc (DCTH)

[Simsim99]

I just can’t fathom why anyone would have participated in the offering if they knew a reverse split was coming immediately because it is not good for the buyers. Is there a chance they didn’t know it was coming? I mean it wasn’t public information. It was inside information so maybe they couldn’t know. We all knew about the increase in authorized shares so they knew that, but maybe they were unpleasantly surprised by the reverse split. In that case they wouldn’t be definite yes votes. In fact they would be pissed and so would Roth at delcath for making them look bad to the buyers.
I mean why buy the offering if you know a highly destructive reverse split is coming immediately?
Also on the prior rev split when they rammed it thru they announced it was approved because they had written agreements immediately. If that was the case here why wouldn’t we have heard last night that they already have the votes for the rev split because the offering buyers already agreed?
I don’t know, but some things don’t make sense.