Only 12 months left…... On the base shelf prospectus that has $140 million of capacity remaining.
They don't have the cash flow to sustain any more debt. So Common equity it is.
The Shelf Prospectus when made final and effective, will enable Quarterhill to issue common shares, preferred shares, debt securities, warrants, subscription receipts and units or a combination thereof from time to time, separately or together, in amounts, at prices and on terms based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement"), for an aggregate offering amount of up to $200,000,000 during the 25-month period that the Shelf Prospectus is effective.