Not that they want, they have no choice. They must have been desperate to get money. They could not have been able to make share offering @ fix price. May be their pipeline did not warrant so much confidence. Geez they have a lot of shares to convert. 10.9 million C warrants. If pps was higher or goes higher, it could mitigate/limit the number of common shares needed. But with this plunging pps, it may get ugly, very ugly. Hopefully the management has something on their wings to make volume explode and pps fly..
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