Under the circumstances this is a home runUltimately this deal is about convincing the average GIC investor to place their savings with Home Trust or Oaken. The lack of trust and the resulting run on deposits is the real problem right now. This deal, despite the dilution is in the best interests of shareholders as it should restore confidence and the inflow of funds. The thinking will be, "If it's good enough for Warren Buffet, then it's good enough for me."
The money raised will be used to heavily advertise and ramp up GIC deposits. The second tranche is not needed as the Buffet effect is already there.
Under the circumstances I think the board has hit a home run and should be congratulated for a job well done.