This whole episode was a shaft job by management and big banks....

This whole episode was a shaft job by management and big banks. To refuse an offer at 3.30, then cap raise at 1.02 after denying the need to, I can only imagine how many retail holders got burnt. Even with the cap raise the value of bbg would be closer to $3.00 per share once things are worked out in 12 mths time. How convenient that Mr Merchant will be able to participate as an equity partner going forward so his existing equity value will be restored. This whole episode reaks of crushing existing shareholder value to favour a few big holders and institutions. Mr Merchant will see future value at more than $4.00 per share and the takeover crew will double their money within 2 years. When the cap raise occurred I was suspicious of this but didnt buy even more at $1.00 as I could not discount a short selling rally to cause more pain for existing holders so I held funds expecting the price might be shorted further but BBG at 1.00 is ridiculously low.

I am a holder who took up the cap raise despite numerous media articles who advised I would be throwing money down the drain.