Offering is priced at 6.15 because the have commitments from investors that this is a fair price. They see this as cheap and going higher.Stock found huge buyers 6.35 yesterday.PMI has sponsorship from the firms that will execute the transactions.Stock will run hard!
Don't be fooled by the $6.15 number. Proceeds to the company are $5.72. This is the number that underwriters will be defending.