Texbanker, your concern regarding the language is noted, “demand” has been changed to “request”. Thanks for your feedback.
Seeker, the letter will be sent to the company with the list of signatories. It represents all of those signatories and not a single group. Anyone shareholder who wants to sign on may do so.
The intent is to obtain a valid explanation for opening an offering only to have to suspend it a mere 5 weeks later, and to eliminate speculation for this occurring. The prospect of re-upping another offering under similar conditions, given the share price reaction to the initial ATM, is not promising unless substantial events change the investment environment.
As for the suggestion to step away seeker, certain actions by the company deserve scrutiny rather than cheerleaders.