Agree…I think in principle no investor would have a problem with a CR provided a sound reason is given and the price is right… most of the umbrage is due to the price of 7.5 which is a big discount - which doesn’t inspire confidence in the business if they need such a discount to entice CR capital. I wonder who worked out the price and what back room dealing was done to set it.
Peak pessimism - complete overreaction, page-17
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