If it were over-subscribed was is the share price tanking? Maybe its over-subscribed at a serious discount and share price is tanking to meet the discount - someone said $.75. That is the only way it makes sense to me.
For whoever asked, a Private Placement (PP) is attractive to larger retail investors (look up Accredited Investors for qualifications) and institutions that want a bigger piece of the action but cannot access the public markets without seriously moving share price in the process. To them, its a bargain to be able to get a PP because instead of having to buy from whatever floats, the company waves a magic wand and poof, more shares are available for the company to sell. The rest of us get diluted as can be felt by our percentage of the shares outstanding and as evidenced by the declining value of our shares. If LWLG does something constructive with the money raised in the near to intermediate term, theoretically the raise will be accretive to share holder value, but we have still been diluted in the sense that each of us controls less ownership of the company than the day before the PP. Hope that helps.
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