I always consider it bad form when free money is sort and retail shareholders don't get a chance to participate.
Each time this happens the stock is diluted and shareholders should have the chance to match this dilution.
Companies have got drunk over over raisings in the last few years. Its free, no interest to pay, no guarentees or caveats are needed with the lender.
Now it may be OK in BSM place but we all need to ensure management are well aware that the very best use of the money is required.
I always consider it bad form when free money is sort and retail...
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