I didn't mean to say it never happens just that by my experience it'd be unusual and I really don't think it would make a lot of sense for PEN to give such a deep discount or dilute heavily at this point in the game when they have funds coming in a few months from sales.
Unless they want to fund Phase 1 entirely from this CR and the sales cash - but that would seem like a pretty risky play unless they really really feel like the U is just about to pop...
I didn't mean to say it never happens just that by my experience...
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