Bellatrix Exploration Ltd (Canada) BXEFF

RE:Only close to 1/2 the dilution now

[bigbeach2010]

Yes only half the dilution but at another 2-3% discount of the market price prior to the announcement, no doubt the punishment will be another 2-5% on top of that.  
BXE will recover in the long term but there was alot of shares traded today on the announcement of a $9.75 bought deal, the punishment today was at a reasonable discount.  With the further discounted price on the renegotiated bought deal the fellow who had his order at $9 will likely get filled.
I am still trying to fathom how you can announce a "bought deal" at a certain price, then a full day later after market reaction reprice/renegotiate it.  I can not recall any bought deal financings in the past where this has happened, even with venture companies.  
Something doesn't smell right, if any insiders are part of this deal it would be downright skunky.