PP A little puzzled by the structure of this PP. Re-reading the deal, it will be at the higher of
.40 or market less 10%. You would think Northland would drive this up above the
.40, so at least there is some discount for the offering. Anything above
.44 would yield the best discount to market. This is where the lack of liquidity might be pooching us again...large investors don't really have the option of buying in the market unless they want to leg in over a period of months...so NCP doesn't have a ton of incentive to raise the price up. You still think it would be in their best interest to do so as it would likely result in the most demand for the placement. All they have to do is buy like 5000 shares a day for a week and we'd probably get there.
Not getting this...perhaps I am not understanding this correctly.