Its very good to post a flipside argument. Personally, I don't feel comfortable with the lack of transparency in this raise. RKN were "blindsided"and I cannot help but think the move was a bit hasty (and very left field). This is a BIG raise, not 17 mill, but 45 mill - 1/3 the MC of NOV. This is also off the back of some significant acquisitions over the last year. Once the big boys get a hold of our shares, we are at the mercy of the big boys...simple as that.
Not saying this is DEFINITELY bad, but it was enough for me to substantially reduce my holding in NOV.
Thanks for the post RC.
Ann: Capital Raising and Strategic Stake Expands Growth Strategy, page-78
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