I knew it was to sell last night, but it certainly was NOT easy to find that out.
Not cool to be SOOO in the dark, then and even NOW.
In the short and longer term, however, I think this will be a good thing.
No dilution...and the offering could still be done again soon...timing was just accidentally terrible w market conditions what they were yesterday.
I believe the stock was shorted, by underwriters and/or others, ahead of the offering ... by hours/days...to have capital at a decent price to help support the stock AFTER the deal priced...tricky and I don't know if it is technically legal?...I do believe it is a violation of SEC rules to short a stock under a $2 or $3 price...for the same reason it cannot be margined at those levels. Anyway, upon cancellation of the deal, it forced short covering explaing the last two days of crazy price movement and volume. The above, under the dotted line, is simply my theory and not something I know to be factual.