Yes. Major League dilution.
Raising $45.8MM in dimes is alot of dimes...four hundred and fifty eight million of them to be exact or 458,000,000.
The bank has successfully raised a considerable amount of capital at a critical time in it's history...it was do or die crunch time...and that's great we all wanted BCAR to survive and now they've done something to insure it...but what I don't understand as I look at the market today and see retail investors willing to pay 5 dimes for a bank that now has a book value of 1 dime.
By comparison Citi bank (ticker: C) has a BV of $66.76. Would that same retail investor be willing to pay $333.80 to get one share of something worth $66.76? Oh H*ll No!...but that's exactly what he or she has done here. ':~O
Marker:
Bank Of The Carolina (BCAR)
$0.50 up 0.01 (2.04%)
Volume: 17,211
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