RE: Press ReleaseLet's not jump off the bridge yet.
Yes, dilution is bad, but we should be able to at least hang around the issue price of $6.95. If the underwriters are smart they would pump up the share price to make sure it stays well above $6.95 so that they could get into the over allotment position and make a killing. In bought deals, the company gets the committed price of $6.95 per share and the underwriter gets the overage, or absorb the underage. That's why they have a vested interest to see the SMF SP stay as high as possible. They take on a lot of risk but there is hugh upside, or conversely if the stock is a dud, hugh downside.
It'll be an interesting trading day for day. I love to see some blatant share price manipulations. LOL