definition of underwritten, page-4

Hard to say, Baz. It's why some of us on HC are just waiting to see what is happening next. In GOA's defence, they have been putting out some information. And Pato's may underwrite or GOA may get enough money to continue.

As to the OP, there have been examples where underwritten raisings have been reduced-NAV reduced twice from the original price, and PLA reduced once. I just look frorward to knowing of an outcome with this one so we can move on. Good or bad, the market hates uncertainty- which is where we are now- uncertain.