just a thought....In the NR they had used a very specific wording with regards to the cash raise.
"Concurrently, to meet the capital expenditure and working capital requirements associated with the DCA, Exro announces that the Company has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp., Stifel Nicolaus Canada Inc., and Eight Capital on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 13,500,000 common shares in the capital of the Company (the "Common Shares") at a price of C$2.25 per Common Share for gross proceeds to the Company of C$30,375,000 (the "Offering")."
Is it not entirely possible that Linamar insisted on EXRO having a minimum cash balance on hand before they would agree to the deal?
Is it not entirely possible in order to raise that much cash that quickly that EXRO had to give up a limb as far as to what price they could ask for?
Believe me when I say I am not even a little bit pleased at the SP for the raise...but if this is the short term pain we have to endure in order to enjoy long term pleasure....I would think investors with a longer time horizon would be able to cope with this...
Let's see where we stand SP wise by the end of the day...
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