re: one way to look at the bg sale - for mozz I used $1.25 (=USD 1.00) mostly to make the arithmetic simple. The point still stands even if they had raised at $1.10. Recut the "raise US $132 M" alternative at $1.10 and you end up with 150M new shares and dilution of 24%. The dilution of PSC's A/B for shareholders would have been less than the effective dilution of the asset sale.
ps This is just for illustration; as I said I would have been happy to see a lesser acreage sale + a mid size capital raising.
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re: one way to look at the bg sale - for mozz I used $1.25 (=USD...
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