RE:At-The-Market Facility of up to US$50 MillionI prefer these ATM's to the usual raising cash through other stock purchase / options purchase schemes. They allow the company to raise cash without the one-day fanfare and usual drop in share-price that goes along with financing by other means.
If the company continues to have good cash flow it means that this ATM will not be needed. If they need a top-up some time then the company will not be subject to the usual downward manipulation and or downward loss due to "money" taking options and then shorting the stock based on the fact that the options exist to allow them to recoup at anytime.
So, good for IPA, and good for shareholders in my mind.
cleareye.