definition of underwritten, page-3

If that is the case as regards the 2c mark then I would be pretty sodded off. Considering the sp has been sub 2c for quite some time as well as the likelihood these days that any placement via cr would see any discount met with sp decrease, then there would be practically no risk for an underwriter but all for the holder. If that is the case then there is something seriously wrong with the ability of the board to do their job and protect the holder interests. So I would be presuming if there were a minimum sp below which underwriters would not enter, it would be lower more so in the region of the sp we see now.