It would really surprise me if PZN accepted an equity investment on very onerous terms. As we know, the Company can pay the special largely in paper so that it doesn't have to raise the equity. Why would they give it away below these prices when Doc and other insiders recently purchased shares north of these levels. The Company is on record as believing their stock is very cheap - why would they give it away? It's not like there is a gun pointed at their heads.