PRKR just offered shares for $7.50. That is a very sizable discount. Was that the best they could do, 25% below market value? What does that tell you? And I'm not even talking about the fact that they had to throw in warrants as well. Sure, this is better than giving away shares for free, like they did for Halmos, but I wouldn't call $7.50 a success.
Sorry buddy but it isn't dillutive for 2 years because the stocks locked up. They needed the cash (as we all knew) and in 2 years IBM will probably have gobbled them up. If the revenues (not profits) are up tomorrow AM the shorts will have lost their last best opportunity to buy in. JMHO