Ah ha! There it is. Full 15% over allotment.I was almost certain of it. So it seems was SH which has been posting 218.08m shares for weeks.
5% is the usual number, so triple that represents a significant risk to the brokers, especially since there are only two; one in Canada and one in US.
POW vouching for half the issue was vital.
Then there was the pricing!! I spent the weekend of Dec 16th mulling over and decided that $1.84 US was too good to pass on the open mkt when the brokers were quoting $2.54. Throw in the warrant and the s/p is $2.67 USD. A discount of 28-31%!
Now the wait and see begins. When and if the next dilution is announced. That depends on the speed of the ramp up and the rate of C.F. I suspect the capex is pretty much all done but the operating costs will keep mounting. We'll get an idea of the burn in Feb. Then there are the interest costs on debt.
Biden, Granholm, Pritzker, Trudeau, Legault, Champagne et al.. many reputations on the line.
I think the Caisse will be content to go along. But then you never know when the bean counters stir up a revolt.
Sunny, breezy and 27C at Turtle Beach in Roatan. Off to my first swim.
Cheers and the best to you in '23.