Analysis of FinancingIt is a bit of a unqiue situation. In August, GSI indicated one buyer wanted 'the entirety' of the financing. Thus, this buyer had a lot of power in driving the price. Though there was an initial price set, with the stock in decline the buyer was likely trying to negotiate a better deal. The company likely balked at a new price. The deadline was Dec 1, and a deadline is a deadline. It is entirely possible a deal could have been reached yesterday, if price was the ONLY sticking point.
So said 5iResearch yesterday. And don't forget that the kicker for this unknown buyer was that they were going to get 6.5M warrants with a strike price of $1.10 so that would also have been part of the negotiations. Good move by GSI management to stick to their guns. Onward and upward. GLTA