RE:$1.38 does that mean this stock will fall to that amtNo! It means those investors (most likely institutional or HNW) think the business is worth MORE than $1.38. This should be validation of the business and it should actually trade up. The company will also be able to expedite their growth plans due to better access to capital. As well, given the Company's more robust capital structure, there is a lot less risk.
I like this deal - I feel like overhang is usually the result of warrants, none of which exist here, which is pretty impressive for an offering of this size/scale for a small cap Company.
~16Mn shares will be cleared quickly in the market - yesterday the stock did >10Mn shares in the time until the market was halted (2.5 hours of trading).
Good work to the DOC team! GLTA!