I have to agree with you there. He could have owned that a bit...

I have to agree with you there. He could have owned that a bit more but just blamed having to raise at the end of the year, not a good time etc etc. Reality is they couldn’t launch the RI and the CR at the same time as they had negative cash and would have had to disclose that in the RI. They shored up the balance sheet then went to retail with a doomed to fail strategy.

IVZ are lucky the RI failed, if it didn’t they still be raising into dilutive oblivion wondering when that miracle SP rerate was coming.

Im glad they have taken the time to pause, look at their fiscal strategy, get better pricing and most importantly put some real effort into finding higher quality funding options than what PAC offered up. They should have been doing this last year in anticipation of a discovery.