Rights issue into a Microcap company with a $800k MC, doubling the register, plus overhang from Bergen, Hudson and the SPP and people were surprised by the supply after a 125% gain off the raise price?
More like dissapointed that the music stopped or that GTT didn't find a market darling to vend or hit 1000m of massive sulphides before folks lost interest. That's the state of the small cap market, there is limited amount of capital to go around. If directors don't market the company post raise, then Sophs, instos, sub-underwriters, wont participate. GTT are not alone here.
I still believe their end goal was/is to acquire a successful business, which would have benefits for all involved.
Rights issue into a Microcap company with a $800k MC, doubling...
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