Mr. Market had JAXB priced at $1.50 the day of the announcement.
What I hear you saying is you would prefer buying at $1.50 while XYZ Fund was given exclusive rights to buy 20MM shares at .50?
I fully exercised my rights...and if I would have been a backstop investor on something like this I would have bought all the shares short-sighted traders didn't.
The bank needed (and I think expected) a much better participation rate...this will set them back a few qtrs...but I still think investors won't regret the purchase.
Banks are money machines. Let's re-visit this in 6 to 12 months and see what a .50 buy returned.
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