1. With full results from Optina and Ampion within weeks, what reasonable institution would roll the dice and bet $25M on the results without major investment banking support? Or without some knowledge of what those results will show (possibly necessitating and restriction on sale of the stock following the offering and for a period of time)?
2. What does this offering say to the shorts and the prospect of them ever getting out below $5.50 at best? What does this say about the prospect of a surprise (to some of us) negative announcement making a short investment pay off?
3. The lack of an investment banker in the transaction, although possibly disappointing for those us looking for share price support from such involvement, makes the deal a) that much more impressive, and b) cash positive for the company - saving both cash and further dilution in the form of over-allotments, etc.
Maybe because I'm blind to anything else, I can't help believing the new investors know what is coming in the Optina, Ampion, Zertane, etc. announcements and made their very bold (non-investment banker supported) investment.