RE:RE:RE:Bought Deal Financing @ C$1.77I started a long position in CNC back in early December @ C$1.36. I am very happy with the recent Anglo partnership but I still can't understand the timing or pricing of yesterday's bought deal financing. The only explanation I can give is that management saw it as opportunistic to piggyback a financing on the stock run-up from the Anglo news.
It appears that most of the stock price gains from the past two days will be lost when the stock starts trading today. Bid is currently sitting at C$1.85. Hopefully the stock price recovers quickly after new analyst ratings are released based on the recent events.
GLTA
davgro wrote: rockstar wrote: Trying to still get in Davgro LMAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Already sitting with a nice long position. If I wanted to add I would just participate in the public offering as I am a Scotiabank customer or buy on the open market tomorrow, depending on market reaction to the offering price.
Not sure why the company felt they had to do the public offering at a discount of 16% to the halt price. They probably could have done it at C$1.95 to match the price Anglo just paid.