Yeah you would have to see $3 as a positive especially in this market.
Its fully underwritten so they are more than confident that they have some big clients to take up the offer. JP are also sticking their neck out with this one buy fully underwriting the issue. $3 doesnt exactly give them a huge "buffer" of protection so they are extremely confident.
I think we will get a positive market reaction.
placement out, page-6
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