Precisely right. And the selling along the way to get to $164M will very likely drive the share price down as the selling happens, thereby requiring even more lower-priced shares to be sold in order to meet the $164M.
And Mitch just said they are going to need $1.2 Billion more.
And if all they have to raise money is share dilution, and selling these shares... the cycle could go on for quite some many months. Re-authorize, create/dilute, sell, repeat.
This my 15th last post today.
So clietz: Per your just previous post:
The special shareholder meeting is to authorize shares based on current numbers, not for 2B shares after a reverse split. The reverse reverses the authorization allocation as well. If the 2 B allocation proposal is rejected and they do a reverse, then H&M could set-up another shareholder meeting to request vote on authorization at the new reversed share price.
See my previous post too, where I copy/pasted what a Bob wrote, that H&M is desperate to authorize more shares, as the company requires funding ASAP, and At The Money (ATM) selling is pretty much all the company has to rely upon to raise funds.
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