How bad was the bought deal?
At the time of the bought deal, the price was $2.72 after following a general market sell off and sliding from the low $3's. Since then, the market has been green. Before that black Monday on July 18th, Hiti did a dilution for 500k shares @ $4.76 and no one said a word or cared. Right now, hiti would be sitting between $4.40-$4.80(without the bought deal) because faith and belief in Raj and the hiti team was sky-high before July 18th happened. Conclusion : Had Raj been a man of his word, he could of been cooking up a dilution for $4.50 per share while still keeping his word and the confidence of shareholders at a high level. Instead he broke his word, did a dilution at really low price that put shareholders anger through the roof and shattered shareholders confidence in him and the hiti team.