The quick switch to OZ cap raising is a nice move, IMO. It gives SEA funds and symbolically demonstrates that sophisticated investors elsewhere see value in this stock. (i.e., USA, you had your chance and blew it!)
I'm sure the NASDAQ setback is frustrating to the execs -- meaningful to have a listing on their home turf on a big board, and the US market offers more funds and potential upside sp.
As for Tuesday's post-halt price: I think the 95 cent offer may set the level. Remember, SEA dropped to 91 cents when the NASDAQ raising was announced, and brokers dropped SEA's target price with the anticipated dilution. So maybe the $60m cap raise will have minimal downside effect.
SEA Price at posting:
$1.01 Sentiment: None Disclosure: Held
