Nano,
I wrote to Investor Relations complaining about the new stock financing, and, sure enough got the answer that they weren't doing it for financing purposes, but in order to attract a few new institutional investors.
You will note that Austin & Greenhouse is selling out their entire position (see post by Surf1944). The company simply believes that they need institutional holders and wanted to bring on new ones to replace Austin & Greenhouse.
Austin & Greenhouse has a reputation for selling out at low prices (probably for tax losses for their clients), so having 5 new institutional investors with more conventional strategies (i.e. to make money) is a far cry better situation than they had before.
Therefore, this market reaction appears to me to be a buying opportunity.
Rip
Note: Company did NOT say that Austin & Greenhouse has a habit of selling low. I picked that up from several other sources on the internet.
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