Sushi, you need to stop snorting that wasabi, it's making you bitter.
How many 'ordinary scum' as you like to put it (maybe that's how you see yourself?) are going to stump up for the full $15K in a spec stock? I'll tell you, not many.
AZZ has a relatively small register, with over 50% of shares held by the top 20. So there will be enough to get at least a couple of K each - exactly how it should be.
Why? You simply don't want a massive offer on the SPP, otherwise everyone sells down to go in cheaper, and everyone loses out. Increasing the shares on offer as you suggest would be complete lunacy.
Most holders will consider the dilution a small price to pay for what we're getting in increased acreage and the ability to keep the interest of a farm-in partner of PetroHawk's quality.
AZZ have only 224 million shares, there aren't many Oil & Gas stocks who have been around as long as AZZ with such a low and carefully managed issue of shares.
Maybe it's time to buy now Sushi, I see we're up this morning!
AZZ Price at posting:
33.5¢ Sentiment: LT Buy Disclosure: Held
