Hi Biggles
"So underwriters are just good people trying to help out the poor old retail investor by underwriting the offer, is that it? Pllllease! If they see a quick buck in it they'll fold quicker than Superman on laundry day. "
Underwriters are no more angels than many traders that lurk on HC but it's a well know fact that in spec stocks in recent years and probably more so ones that have been in admin, that small holders haven't supported CR's...so the more appropriate question is what would have happened if it wasn't underwritten..I don't know but I have a fair idea...nothing worse for a Company to not raise what they were aiming for and having to go back for a second try at a lower price...
In this case it hasn't been handed to others directly , all shareholders have the opportunity at the same price but on past experience the uptake won't be high from small holders and most will end in others hands ...those small holders who do take them up are just likely to flog them off cheaply as anyone else anyway..I prefer money in the Bank and deal with any fallout later than deal with a shortfall that puts the Company at risk.
There is no easy solution when you need cash but without your toast..The difference between yesterday and today is we will have shares on offer and more cash in the bank...the project potential hasn't changed..
Cheers Whisky
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