placement, page-18

aswon3,
"are we worse off?"
of course not. now your Co has an extra $7.5m cash in order to advance all of their projects.
placements to sophisticated investors are always placed at a discount to the market, this is standard practice. As I see it the offer to sophisticated investors has the advantage of placing stock into 'strong hands' which means we will not see this stock flooded onto the market for short term gains as is often the case when stock is placed via a rights issue to existing holders.
generally, sophisticated and institutional investors take a longer term view and if this placement is fully taken up that to me bodes well for the future of the Co and sp.