To pray on all of the excitement from the pumpers and be able to do a nice raise at a decent PPS...that would be my guess.
There should be absolutely NO SURPRISES here as we all knew they need more money. My beef is they have $113M from warrants hanging out there, so elevate PPS and get some of that for Christ sake but NOPE, they dilute some more /offer even more warrants to entice and pretty soon a 1.6B buyout will be in the low 60's (a 10 or 11 bagger) Not horrible but thanks to JH,RR, and a kudos to Mc certainly not ideal !