Cornerstone Investor.....

I have been thinking about the placement. I think this is a sizable CR up to the company's 15% limit. How the market reacts to this will depend on the commentary that comes with the announcement.

Then I got to thinking, if I were Delta et al, and was considering an agreement with SMN that the whole industry was likely to follow suit, I would be wary of a third party predator (competitor to Delta for example) raiding the company with an opportunistic T/O bid that potentially could exclude me (Delta) from using the technology. If one airline got control of this technology imagine the competitive advantage that would give them.

Just a thought.