No discount on the last close but free CHKOA option per 2 shares.
The newly issued CHKOA's could then be quickly sold for 0.008 thus reducing the effective share purchase price to 1.2 cents - a 25% discount to current price. This is why the CR got done in 7 minutes IMO.
In summary:
Company wins because they easily raised at current price with minimal dilution to the heads.
Shareholders win for the same reason as above.
Original CHKOA holders still doing well even with dilution as got them in previous SPP for .001.
Only losers will be current CHKOA's holders who recently paid more than .008 for CHKOA's as mass dilution coming from free options in this CR.
My observation only - happy to discuss.
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CHK Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
