$4o mill being raised at what price? This explains why we werent trading a lot higher, this was obviously known to be happening by the board, and the lead broker, etc. And with capital raise on the table, there was not going to be a huge run, when many connected know they could get it at a discount and the company would be diluted in just a week.
The timing, to put it mildly, is perplexing. If a major pharma player was truly interested, securing financing on better terms should have been within reach. Instead, we’re being diluted at around a cent per share. I won’t pretend otherwise—this is disappointing, always thought they would be raising a lot higher if they needed to raise.
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