RE:RE:Common Sense
Boarman, Unfortunately there are some smart people stuck in BNC. One, who is in the finance industry, told me that a 23 cent offering, with a half warrant exercisable at 30 cents for 60 months is in effect a 17-19 cent financing, depending on the discount rate, or whatever tool he would apply in his analysis. Not absolute but definitely in that range.
I went with 19 cents to make it sound less punishing.
Whatever it is, it is 50% below the lowest close since the FDA confirmation of BLA submission was announced.
I too am watching for share consolidation near term. And, that may be the intent of this financing after all. Well that and finally turning over the float of whiny, unappreciative ingrates once and for all.