RE:RE:Down 25% in premarketThere are currently over 2 billion shares outstanding (not float, total shares).
The 'balance' TRQ needs to raise is $1.7B. In theory, this could become a 100% dilution.
On the other hand, TRQ is trading at 20% of book value, so it's hard to know what the stock price will be once this is over - but I suspect pretty close to where it is now.
Then, assuming $2B in earnings next year / 4 billion shares TRQ might be anywhere between a $2.50 and $5.00 stock.
I'd be interested to know any other views.