I suggest that “not being overly confident that this current raise is oversubscribed” would be more appropriate. However, nothing to be fearful in that outcome if past history is any indication of the future.
i recall the last time the company did the ring around to holders about participation in a CR - and that was the last CR that was NOT supported by holders resulting in shortfall.
Not all downside to that story though - as there was a massive uplift in the price once the CR was completed - as, the underwriters got set, pushed and got out.
General discussion, page-183
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