Since the CR is underwritten, I think DB will swallow the...

Since the CR is underwritten, I think DB will swallow the shortfall and they will think of a way to get their profits, either by pushing up the SP or seeking other interested parties to take over the new shares. I think instos will like the block trade. If they elect to purchase from market to make a significant position, the cost is likely much higher than fork out $2.89/share.

I think this is a good move for SBM. I believe the placement participating number is not big so far. It makes sense to let go the money from these loyal retail shareholders. This also shows empathy to the retail shareholders, and convinces the market SBM is still a company with sense of SH interests.