Companies make these offerings to "sophisticated investors", so I had it explained to me by another co that did it.
Seems wrong that a company can offer equity, usually at a very attaractive price, to those other than its own shareholders without even a mention, but they do.
BDG did it not so long ago, thankfully those sophisticated investors took up the offer @ 80c, saving us unsophisticated investors a swag by not investing any more in the dog.
i believe it is , page-13
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