RE:RE:RE:THIS WAS NOT AN INSTITUTIONAL FINANCING! SIMPLICITI1, you seem to have been down this road before. In the words of Clint Eastwood as Dirty Harry, "a man's gotta know his limitations" so I would appreciate your insight.
First, my initial thoughts on how this underwriting (totally agree with you on that) unfolded.
I fully expected that we would see the SP fall to around the $2.25 level which of course it did. The SP continued to fall to the $2.10 level which I attributed to the the underwriting group passing on the additional 6% discount to their "preferred" clients.
The volume to get to that point was nowhere near the 13-14M shares involved so my thought was the underwriters where going to hold on to the balance for their own account. And why not, this made sense given the future outlook for Exro.
Could it be that the the underwriting group or one or two of them have made the decision to sell the hold for their account shares at bargain prices recently for whatever reason - appease their preferred clients further or other reasons?
I remain firmly committed to Exro but sometimes.....
We need a shareholder update. Soon. Very soon.
GLTA