I believe it could have been better structured. If they are concerned about having sufficient funds for manufacturing purposes they could surely have got a line of credit as opposed to adding another 16-17% more fpos plus options. Doing a raise of this quantum also raises the question of the value of the faa approval to me. Perhaps there is a feeling that faa approval won’t add that much additional value to the existing sp, hence they feel the company is well valued at this point and thus it is a good time to raise so much money.
Anyways I have now exited the building for the moment and put into a couple of other technology plays (WBT/4DS). May look to re-enter here around the mid to low 40’s once everything settles.
all the best to you and the long termers here
ELS Price at posting:
55.5¢ Sentiment: Hold Disclosure: Not Held
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