The situation is not driven by what the Company thinks the...

The situation is not driven by what the Company thinks the shareholders will pay if its an SPP, they will want it underwritten, so its how high will the underwriter go. Let's assume its M Bank and RBS. They will want a price that if they're left with $100M worth of stock, they can sell it at a profit quick smart.

No doubt in my mind that a raising of say $300M will help BLY no end and the SP will improve after the shake-out, but you need to consider who is pulling the current strings.

Best case would be the whole amount comes in from existing shareholders, but I think that's improbable as many holders will have taken a financial beating over the last 18 months.

My guess, 32.5c and $300M,

CD

DYOR