Like a 2nd OfferingIMHO..an execution play in the mix...expected standard operating procedure..lol.
First thing that came to my mind...leverage for negotiating...increase share price..and make everyone pay a premium price.
Interesting is that it came at a time milestones start to volume...this has created a perfect bulls/bears battle to chew through potentially 10's of millions of shares...5:1 ratio?
The 'Prospectus' Nov 24 will tell how many $100 millions that the pipeline will generate. Acts like a self marketing tool on guidance and value.
Only one house, canaccord, bought deal, and what is going to trigger the next much higher share price...the deal with upfront...now that would make a great new milestone button.
The 13 M shares are expected to be done by Dec 9...just enough time for the Nov 24 prospectus, and inking of a deal. it is not uncommon to accelerate the timeline however does the buyer already have a new buyer in the mix...and announce either an over subscription or closes early.
Perhaps a stalemate on upfront and next news could drive the sp big time within reason of coarse, however, just in time for new TSX SmallCap additions...healthcare...and growth funds,
One more point...this is part of addition working cap...and 25% could be used as money flow to keep the sp in relative strength.