my thoughts are that management could have raised $500m straight off the bat through sophisticated investors but chose to "reward" holders with a chance to participate.
I'm guessing they thought they would have been able to announce LGs agreement (or others) earlier but it didn't pan out that way so extended the deadline.
We can all see the significance and global attention this announcement has had on the SP.
As Andy stated I'm sure the early birds will get their worm.
It seems like it was almost certainly under subscibed initially due to extenuating circumstances and lack of news but I'd be confident it will be a success now.
Some have commented it was "poor timing" etc. but in essence I believe this was always intended as a bonus to the loyal & committed who in the end just couldn't help themselves at the dip price.
This caper is about maximizing profits after all.
Management have just comprehended the market ebb and flow and gave us a second bite at the cherry while addressing the "missed by that much" reality.
A win win I would say.
Just my take on it.
Originally posted by Andyrooster
my thoughts are that management could have raised $500m straight...
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