On a personal level (the biggest SH) and as a CEO, it doesn't make sense for SI to do this placement at 30c - if they had other alternatives to get additional funds.
I can't sit here and pretend that it's all roses. It's not!
Simply, SI has done well to push Mesoblast along, but this CR is nothing more than a desperate grab for cash at a very low level and diluted existing SHs way too much.
Does Mesoblast need the cash - absolutely!
Could Mesoblast and SI have managed our finances better - absolutely!
But, what is done is done.
I still believe in the science and that we are closer to our first product approval.
So now we have cash in the bank and a huge amount of upcoming catalysts.
Mesoblast has bought time and can navigate the prolonged & costly FDA approval processes with less time (= $$$) pressure.
GL MSB'ers - onwards and upwards.
On a personal level (the biggest SH) and as a CEO, it doesn't...
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