Someone at the G&M sees it like I do...https://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/westports-awkward-financing-announcement/article1786138/
Personally, I think the CEO (in particular) wants Westport to be successful, and he (they) want to be seen as successful themselves, but they certainly don't want the long-term shareholders to be successful!
Why would he not let the stock run for a week and then announce the financing?... I mean what difference would it make to the company if the financing is done at $25.00 instead of $17.00; especially since they don't really have a use for the cash on hand anyway.
IMHO, it appears to be spite driven... he/they want to make their millions, but are resentful if the long-term shareholders benefit from the companies success too.
I hope the Toronto Stock Exchange asks some pointed questions before allowing the financing to go ahead.
If you get the sense that I'm annoyed, you're right!