RE:RE:Clearly the "new" NGC is priced less....The cash from exercised warrants combined with cashflow from production could mean that no further equity needs to be raised to build Bisett Creek. This likely was a reason for the half warrant.
As pointed out earlier the shares were on quite a run prior to the financing and nobody would have predicted NGC would have been raising money @ .75 six months ago when it was trading around .45. A discount to market is customary in any PP.
Many of the investors in this round are funds and long time big accredited investors/supporters of the Company. They aren't in this to flip the shares for a few pennies to keep half warrants like some small retail investors do. For the new funds/investors this is their initial position which is being cut back in what is likely an oversubscribed PP. They are just starting a position and will likely be accumulating at much higher prices from retail investors who sell.