Petroglobe Inc. PTGBF

Financing will probably have to be moved down

[jon8034]

Whether the suit has merit or not, it was released at just the right time to try to kill the financing at the 1.10 level, unless some unforseen event moves it back up. If they were intentionally trying to drive down the value of the company they picked the right time. If they have to refinance at a lower level, that could cause a further sell off. With any luck, they already have enough funds committed already considering they expected to close it next week.