The announced dividend schedule has given the underwriter a good deal of room on the pricing front IMO. The real question will be whether the market really believes LOAN can earn enough to continue to pay out that generous dividend down the road. Pricing a stock with a 28 cent dividend that many won't believe can be maintained will be the where this stocks trading range will reside.
Depending on the price the secondary gets done at this co. could easily be earning in the high thirty cent per shr. area with the additional capital they raise just based on their past returns so for you to doubt their ability to pay the .28 div. is shortsighted and naive IMO. Get out your calculator and run some numbers (if you have the knowhow). Mr. Ran is not going to declare a dividend he thinks he will have to cut. LOAN is just starting to find it's legs after a long period of proving itself in this business. This tree is just starting to bear fruit.