This move and its timing make little sense unless a deal suddenly fell apart or they are planning some item of good news in conjunction with the offering. Otherwise they would have done this a while ago or waited. I wonder if large chunks of the offering will be “steered” to certain parties as a ransom payment of sorts.
Yes the strategy is allow the shares to go to the shorts so they will cover cheap and clean the clocks of the retail holders! Funny thing is I thought they could be capable of doing such an atrocity to the retail investors so the hedge funds could cover and make hunreds of millions of dollars at our exspense. BOD has to go! Question is why in the world did they do this at this time? They probably knew most voters were not on board with them! Retail and some Institutional Investors. So doing this now means these certain Institutions will be able to cover in exchange for votes in favor of the BOD! That's the only reason they would do such an offering at this time! Slimy deals are being done in the back rooms to make the wheel turn for management ! I sure hope they didn't make a deal for votes but that's what happened the last time we Diluted . Management got what they wanted and Tutes and Hedge Funds got what they wanted. No common sense reason other than that for doing a offering at our weakest share price. We need this investigated for sure!
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