Don't worry it'll pump again when the underwriters are issued all of their options.
Shareholders actually got the better deal here.
Let's say you owned 1,000,000 POD shares. You had an entitlement allocation of 250,000 POD.
You sold 250,000 POD at 6 cents for $15,000.
You applied for $15,000 of entitlement and shortfall amounting to 468,750 shares plus 1 for 3 options, so 156,250.
Yesterday you had 1,218,750 shares plus 156,250 options.
Sell 218,850 POD for $8312.50 and I don't know maybe hold onto the options, maybe not.
So you end up with 1,000,000 POD shares again, $8312.50 cash and 156,250 options for doing very little work.
Meanwhile the 708 investors who got their allocations scaled are now in the red...
Add to My Watchlist
What is My Watchlist?
