this will add 38mm shrs to the s.o. which is 404mm, giving 442 so. this is a 1/5 dilution, stock price should drop 1/5 from $5, to $4, just where lightson predicted.
'' it intends to resume sales under its previously announced $200 million program of at the market issuances of its common shares through Evercore Group L.L.C. as its sales agent. To date, the Company has issued 6,892,233 common shares under the program resulting in gross proceeds of $24.1 million.''
wow, they announce when everyone is out! i only have a 1/5 position, and i was frustrated that it ran up today instead of down! now i will get my fill at my price. i don't think this will matter much, gnk announced financing and free did a rs, they just kept on getting it after the shock wore off...
shippers have the green light and the sector will buoy them all.