I can name at least one pinkie that let shares go at 2x the average share price, This i because of speculative future value. It would definitely not be the first time. (and I venture to say very far from the second time). There are reasons that investors do such. It has to do with SEC regulations and how to bypass them. I will not expound further. Dont be at all surprised if the rights offering is absorbed totally.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.