Putting aside the issue of a company having to raise capital at all coming out of a downturn like this, I think this raising was fair from the point of view of all participants.
There's a sweet spot between too much discounting (leading to the inconvenience of scaled back applications, and value loss for non-participants) and not enough (resulting in heavy under-subscription). In this case the company raised almost all, but not quite all the capital it wanted from holders. No one was scaled back and the 5% discount to current market price is reasonably tight. IMO they got this one right.
MVF Price at posting:
54.5¢ Sentiment: Hold Disclosure: Held
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