>Why would this new (or one of the current ones) institutional investor would pluck in 6mil of their money to see GTCB value destroyed?<
I do not understand your question. The only value that was destroyed by the latest financing was the value of a pre-existing share of stock. The company itself did not suffer in any way from accepting money on unfavorable terms.
For an investor in the latest offering to buy a unit consisting of a share and a warrant for the combined price of $0.87 was a no-brainer.
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