There are a few factors to consider. The shares are allotted for...

There are a few factors to consider. The shares are allotted for a few days after the announcement, so the SP will drift lower for a few days until they are. Then the sophs may decide to get out and take their quick profits. Generally the discounted issue price is touched by the SP so anyone upset that they can't buy at the discounted price - just wait you'll get an opportunity to.

Also is generally assumed that companies will pump a price before a CR to try and raise with minimal dilution. So you can presume that all good news is announced and that there will be a lull for some time after. Certainly FBR have a history of only engaging with investors when they want something.

The market will look at fully converted SOI, not just current SOI. So they are dividing in all the options and performance shares to be issued in to the market cap to determine a price. Personally I'm dying to see how the Pivacs bs their way to the Class C performance shares. In my view they've only just met the Class A performance criteria with the Dayton build.

So wait for the 2A and allottment, see if the sophs unload and make your call as to whether you think that's a decent bottom to buy. My personal view is that this will hit 5-5.5c in the next couple of weeks and could be a good buy for a mid term hold.