Yup. I had a short panic when I saw it at first. But I think that they have this well thought out. The funds raised are going to be used to grow this business further. And like I said....I bet they have a solid PR or two ready to offset this. Can't raise the money if the PPS falls below the offering price.
My stance has changed and I'm beginning to hope that they complete the offering so that they have the money for more acquisitions. So it looks like investors are still winning. And yeah, dropping this offering means that it won't affect share price of a run. The stock is oversold.
Offerings to raise money for acquisitions is good, every major company does it. What we don't want is offering to settle debt and they're not doing that and have no debt.