CNAT...priced at $5.50/share for 5,000,0000 shares
but dilution is less because in a real weird thang, they are using the proceeds of a bit over two million shares to buy and retire two milloin shares from an institution at the net offering price.
R59 - on CNAT, do you know any background on what is going on? They are issuing new shares and will be buying back shares from Archer at the same price - essentially a wash to CNAT on those shares (they are also raising a little extra money).
Was there some kind of prior agreement that Archer would retire those shares in this way? Some terms related to the original offering/PP by which Archer got those shares? Otherwise it seems that Archer could get more $$ by selling in the market or via a negotiated sale to a third party.
Given that the offering is at 5.50, I will probably add to my CNAT holding at 5.70 or below.
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