"Well, COH got this away brilliantly and got a little more than needed and placed entirely with existing shareholders."
When a company asks its shareholders for capital on a 1-for-10 basis, priced most generously at a near-35% discount to 30-day VWAP, and at a 16.8% discount to the last traded price, what else could one possibly expect other than existing shareholders being supportive?
Not sure what's so brilliant about that. You don't need any pre-eminent capital market skills to achieve that result; my corner greengrocer could flog COH stock on that basis every day.
Money for old rope for JP Morgan (who also pocketed an underwriting fee for their modest troubles... who gets paid to underwrite a capital raising which is such a cinch to get away?)
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COH Price at posting:
$182.17 Sentiment: None Disclosure: Not Held
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