Interesting timing of dealThe timing of this deal is curious. Also the use of proceeds was very generic in the press release. Although I'm not a fan of the ~10% dilution, it is possible that HEM is using the proceeds to meet robust customer demand (perhaps undergoing capacity expansion?). If so this is very positive for shareholders, even with the dilution. Without further information though, can't be certain. Also, it is very positive that the deal was done on a bought basis at a very good share price (well above the 15 or 30 day VWAP). This most likely puts a line in the sand as to a base value for the company.
I'll reserve judgment until I hear management's comments on the next conference call. I really want them to provide more detail on use of proceeds. Also, we'll get a much clearer idea of how the whole picture is shaping up for HEM.