Interesting that there is no, zilch, nadda, mention of ANY underwriting for this entitlement offer.
This suggests to me that they feel they don't need the extra funds as they fully expect to get what they need via other means, ie sale or funding into KDP or the special purpose vehicle(s) or one or more PDAs with Crusoe with the ensuing non-dilutive security project funds.
Today's announcement appears to indicate that the non-dilutive funding from Crusoe would come fairly promptly after the signing of each PDA.
Of course, devil's advocate's turn, or they could get no-one to underwrite it or forgot to include the details in the CR announcement.
KPO Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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