Just my luck, company announces it's NOT undertaking a capital raise - still end up 10% down
Trying to figure out why they needed the extra 20 million now rather than waiting 6 months. my guess would be that one of the debt covenants for current or potential lending needs a certain debt:equity ratio, and hence the 20 million would achieve that. Otherwise, the CEF funding will come through in Q1, so there's no real rush to get $$$ in the door for the sake of the balance sheet.
Ann: Request for lifting of trading halt, page-6
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