I couldn't say why PE has taken up/underwritten the raise. Could...

I couldn't say why PE has taken up/underwritten the raise. Could be securing the original investment. It is indeed bad timing, if there is such a thing as a good time to get a pandemic. These guys were set up for a highly geared bet that steady times will endure and they can grow, consolidate and dominate. Now their survival depends on enough revenues coming in to cover lease liabilities, interest and principal payments. Plus the extra operating expenses from all the disruption. There probably will be little left for dividends. And of course, there will be the usual 'non-cash' impairments and write downs. Its going to take the economy to go into some growth mode before there is sunlight for OML.