RE: unbelieveable"One has to ask why they didn't increase the July 11th financing from 240 million to 310 million ( a relatively modest 30% increase) if they needed a bit more cash rather than alienate their entire shareholder base."
B/c what management did not tell us in the PR for the $240 mm debt financince was that in order to finalize that agreement they needed to raise at least another $65 mm net of their own money. So without this equity financing there is no $240 mm debt financing.
If they could have gotten $310 mm of debt they would have done it just as anyone else would have. But the banks call the shots on debt financing as they don't have to give you a dime as its thier money. Its obvious they were not willing to part with an amount larger that what the deal was struck for.