The recent bought deal is significantThere are many reasons why the recent bought deal is a very significant part of the PAT story (not least of which is that the capital raised gets all cylinders firing!). For one, Canaccord and the syndicate of underwriters for the bought deal would have had to "bid" on a price for these units. This is a competitive process which means that multiple investor groups saw that $2 per unit was a good price. A good price for an underwriter is normally something at a significant discount when compared to the share price on the open market. Have a look at PAT's chart; there have only been 4 days EVER of trading above $2. And yet, this syndicate thought that (and bid) $2 was a good deal for them. Remember, that they are committed to buying these units at $2 and would like to turn around and sell them for a profit. No one will buy them from the syndicate as long as investors can get shares on the open market for less than $2. So what? Well, if you are a small player like me, it tells me that the syndicate is confident that PAT will be trading over $2 sooner than later as they do not want to be holding onto these $2 units (they want their money!). I am confident (yet not fully knowledgeable) that this group will support the share price so that; a) PAT will regain its momentum b) the share price will return over $2 c) and that some news will be released in the next few weeks that will cause another run (the sooner, the better for Canaccord). Remember that PAT is full of cash and the window of opportunity to generate revenue is a short one. Mgt knows that they must act quickly. Should be exciting!