Also one more point on the assumption they 'need' the cash - the dilution % is not linear as the market cap grows. Using very round numbers, let's say they took $20m at $400m MC roughly double from here. That's 5% dilution. So assuming you take $20m @ $200m today they are really only 'foregoing' an extra 5% dilution. However now do the maths in reverse as the market cap falls, e.g. $20m @ $100 MC = 20% dilution etc. So risk/reward is vastly skewed to raising now, if their base case is they need to tap the markets again.
Also one more point on the assumption they 'need' the cash - the...
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$20.00 |
Change
0.090(0.45%) |
Mkt cap ! $2.556B | |||
| Open | High | Low | Value | Volume |
| $19.88 | $20.07 | $19.73 | $11.80M | 591.1K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5901 | $19.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.00 | 3262 | 5 |
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