PEIX did not announce any offering on friday; they simply filed their registration stmt for the may deal; they met the june 30 deadline under the purchase agmt.; so-called professional investors purchased 5.4 mil shares @ 26.38 and have another 2.7 warrants exer. @ 31.55; PEIX first plant will be online by EOY and they make money marketing ethanol for other companies now. see friday announcement re windsor,co plant; they probably have sufficient funds for the 5 or so plants and are well financed. like it or not ethanol is heavily subsidized by the us taxpayer at every level from pump taxes to agric. pork and its use is mandated. PEIX has a large advantage by virtue of its west coast location close to fuel hogs of the world and far from heavy mid-west competitor concentration.
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