Clarification on shares outstandingYesterday, I posted a reference to the 'Shares Out' field in Stockhouse as means of calculating dilution.
I overlooked the statement in yesterday's PR that referenced the ownership for BDC following the clearing of debt:
Following the Share Settlement, BDC will remain a shareholder and, based on the Bank of Canada’s end of day exchange as of February 8, 2020 of 1.2753 $CAD to $USD, beneficially own 12,323,542 Common Shares, representing approximately 6.8% of the current Common Shares outstanding.
Back of napkin math means that there will be (not accounting for today's upsize announcement) 205,392,366 shares outstanding. With the upsize announcement you can add 4,250,000 to that figure.
While the rocket ride to $1.60 didn't last long I clearly did not understand the market's willingness to buy over $1.20!!