interesting trading today, page-8

By perspective I mean it depends on your position in the market and your future intent - for example

a) If you are the institution(s) or investor(s) that BMN issues the placement to, you are hoping that the price drops as much as possible so you get a larger % holding for less $. Unless you already hold a lot of stock, in which case it would be like ERA - lose/lose.

b) If youre not yet holding but looking to get in becayse you believe in the long term, in an ideal world you would like the SP to drop ahead of the CR so you can get in. You would also like BMN to pull a repeat of 2008 where they manage to do a placement at ABOVE market price (e.g. to Hanlong) which then bolsters your new investment. Either that or you would like a % based issue to retail holders so you could get some more at a further discount cheapening your entry price.

c) If youre an existing holder of a big quantity, you would rather they just found a good JV offer NOW ahead of any dilution of your existing holding.

d) If you DO NOT believe in the long term and are already short, you would love to see fear ahead of the CR causing decline in price. On top of that you would LOVE to see the CR issued at the full 20% discount to market to sweeten your short position.

I used to be C but am now closer to B.