I'm not clear about what is going onIf Michael Burns is planning to take up 5.3M or so units of the offering, is he the insider who the earlier news release referred to as someone who will be taking greater than 25% of the offering? Or is there another insider that will also be taking >4M units?
I'm thinking it is just Michael Burns, but when the previous news release came out, it only mentioned him having sold 3.325M shares with the intention of buying them back. That would have been less than 25% at that time.