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Modest? Have you seen the AH price?
Roughly 40% dilution before any proceeds are put to work.
8MM + a 1.5MM optional allocation seems like quite alot against 21MM outstanding.What about the dividend on all that issuance? Will it be maintained? How much debt will be retired? How much cash will they save in debt service?
....for the div they have a few cents saved up, that should buy them a few weeks to redeploy the cash. They can also realize cap gains if needed on anything they have purchased in the past 6-9 mos.I would expect that they also have investments lined up to put this cash to work in....a buy list.It won't be in t-bills for too long. LL