My take on May 31st is to give 1 extra day for the rights offering but also still have enough time to still calculate expected proceeds in time for their June 5th shareholder's meeting.
The time on the offering has been greatly reduced. Recall that the original ZN rights offering ended May 30th but with the older post dated day of record being March 12 so they could mail out right holders almost immediately. By revising the day of record two weeks later compresses the time for many shareholders to participate by at least 2 weeks (ZN had to hold off on mailing rights notices and is looking at April 16 as earliest). The 31st is a Thursday and would allow for mail to sent Monday with 3 days transit time to reach its destination. Would not like to see a rights offering arrive 1 day late...
PS: Imperial what your guess on the target price for the big short re-set with 20 million in volume (you know its coming :) My range is $10-$17 and setting stops accordingly. The volume will confirm the peak of course. I hope I'm monitoring it lol!
I have been trying to figure out why I more day as well.
Why move from May 30th to May 31st
Nothing I explore as logical or strageical plays out, gonna keep checking rabbit holes though. I think the answer is out there it's just figuring which tunnel the check
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