Probably the best guess around. Interesting that they are going to Europe and the US for money. I do not want to sound overly optimisitic but it should be pointed out that 1) there is plenty of money out there right now and 2) try buying a good size position in WIBC shares; there is not enough liquidity to avoid driving the shares through the roof. Maybe the pricing will be $3.60.
The underwriters have reserved for sale, at the public offering price, up to 7.5% of the shares of our Common Stock being offered for sale to persons who are employees, officers, directors and individuals having a relationship with us through a directed share program. We will offer these shares to the extent permitted under applicable laws or regulations. The number of shares available for sale to the general public in this offering will be reduced to the extent these persons purchase reserved shares. Any reserved shares not purchased will be offered by the underwriters to the general public on the same terms as the other shares.
I can't say I'm surprised that they went with $100 million but they had better not give those shares away.
Do not know what reserving 7.5% for employees and directors and those having a directed share program with them means. I sure hope it doesn't mean those who hold in street name are excluded. That would be a real slap in the face of their shareholders.
Here is a disclosure when Vonage went public. They offered some shares to customers. My guess is that they are offering shares to customers which is certainly a good thing although I hope it works out better for WIBC customers than it did for Vonage customers who lost their shirts.
Boy I'll be angry if they sell shares to insiders and don't offer them to current shareholders.