Very Strange Financing1. They have an ATM so a bought deal is unnecessary.
2. The discount offer price to previous close is absurd. Especially if you factor in the value of the warrants, say somewhere around 50 cents. The bought deal guys are getting shares at a price near $1.75 not $2.25. Crazy. MC can't be that stupid, so something is going on.
3. The market closed 24 cents higher than the bought deal price. This is strange.
All of the above lead me to conclude that one single party has acquired an instant 10% of ONC (at a discount).
I wonder why and I wonder who.