RE: financing
MC : My point on the market reaction to this announcement is this... ALL of the current and new institutional ( and the largest private shareholders ) would have known about this deal for the better part of two weeks while it was being shopped by the company and Paradigme. They would all know know roughly about the pricing AND most importantly...in the last few days they would know what theie FILLS and ALLOCATIONS were relative to their subscription.
I have heard that the book was FAR over subscribed for the first time in recent memory of PLI financings. THIS IS HUGE.... and suggests there is new and substantial interest. SO... my contention is that the market action of the last couple of days IS the reaction to this financing by the biggest players.