Good question. Makes no financial sense to buy in the raise at a premium to on market IMO. It's following the typical trend of dilutive raises -price drops to issue price and more than likely stays there for a while and goes lower on the back of institutions relinquishing shares they didn't really want in the first place, along with shorts taking advantage. In saying that, I think it;s about the last straw for SYR to take advantage of any market advantage they have. Get Vidalia to 80% on time (revenue from Tesla), announce more ex China off takes, sign off on the loan. Along with a rising graphite price, I hope this would be a base to go higher if things fall into place. So, despite it not being my investing mantra, I might subscribe anywhere around 55c but there's a limit, just to prevent those shares being sold back into the market at these levels.
SYR Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
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