The offering doesn't "fail" for Aegis. They get a percentage of the money raised- and that is a single digit return. You can call that a "discount" but it is in fact a fee. The idea that there will be a 50% to 70% discount to the stock price is silly. All shares bought by Aegis (and they have the right to purchase up to 15% of the float per the S-1) will be bought at market price.
We are playing with the big boys here. This is not the typical stinky pinky transaction that you are used to critiquing.
Actually, after rereading your post, my disagreement with you is semantics.
Whether we call it a fee or a discount, the effect is the same.
The size of the fee/discount will be far less than what you predict though imo and I base this on experience and conversations I have had with people who are closer to this deal than me. Have a good day.
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