It would be pretty rotten to existing shareholders to allocate the insto placement to the same instos that had been shorting the stock down.
My reading of the placement was that the price would be determined via bookbuild. Would be crazy to have the CR price not reflect the announcements of the other funding and drilling rig otherwise they should have held off on announcing the CR for a day to let the price rise first.
Instead they packaged it all into one sweet bundle of joy.
It would be pretty rotten to existing shareholders to allocate...
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