Settlement under DvP ensures shares are only delivered to an investor once payment has been secured (i.e. cleared funds). This is planned to occur on Thursday at which time the company can legally declare "Completion". Commitment letters often contain T&C's particularly if the offer is underwritten. It is not uncommon to have a placement repriced or canned if market conditions change. VMY just went through a similar experience.
WGX Price at posting:
$2.00 Sentiment: None Disclosure: Not Held
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