OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Nov 07, 2007 8:46pm
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Post# 13773344
RE: Short Position
RE: Short PositionThe latest placement ($50 million,i beleive!) was a "bought-deal", one in which the brokerage houses take all the stock and take the risk. It was also a tough time in the market to raise money and i heard that the offering was way over-subscribed.
Anyway the company needed to load up its kitty. Probably got a cash call from Dana for the Kerloch well, plus faciilites expenditures in Argentina. AEN has been smart by doing these small financings efficiently in the market. Its really about having the funds in the treasury to be able to continue the company's operations rather than worrying about short-term fluctuations in the SP.
Bigbadun'