"If I were them I would close with the cap raise, then pile back...

"If I were them I would close with the cap raise, then pile back on and drive the price down further. "

History says that's exactly what happens. I've no doubt MSB's board and management understand this dynamic.


"Some people at Oaktree must be sweating."

No, I think you've got this back to front. It was the sweating of Oaktree that in fact precipitated this rather large call on even more equity capital; because Oaktree, being smart stewards of capital, want to make money out of MSB, but on a sweat-free basis.

.