Just an idea--- Yes your right an offering usually comes at a discount to the market. 11 5/8 was a steal last year but the brokers touted up a good deal to create excess demand for the offering so the stock moved up immediately. Look at TWMC. Had a secondary offering at 26 when the stock was at 31. But now its a 40 number. Everyone likes a hot deal. The price action from such a move could be what CHX needs to get a pop. I also feel the added liquidity would allow the stock to sell at higher PE multiples through increased volume and activity. Those bastard brokers might help you out for once, but don't bank on it.