GREY:CNTTQ - Post by User
Post by
meltdownon May 01, 2019 3:04pm
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Post# 29696428
I'm NOT surprised by the drop.
I'm NOT surprised by the drop.
Look you guys. The $200 million public offering allows the underwriters to buy up to 15% of the offering. The price of the offering will be "in the context of the market" meaning it will be priced at or close to the prevailing market price when they decide to proceed with the offering. Now if I were the underwriters, I'd make damn sure I used every trick in the book to beat the hell out of the stock price so I could buy into the offering as cheap as possible. Seems to be working as planned!