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I guess....but why not just buy on the open market instead of dilluting current shareholders? Their has already been 2 direct offerings in the past 10 months. Perhaps he is trying to by shares at a discount to current prices.
Because there are no current shares for sale. The amount of share insiders would like to buy, can't be bought without impacting the stock price. This is about as bullish as it gets.
Exactly what I was trying to say, except you stated it much clearer.
Very aggressive pricing...at the close of today's price!
Doesn't appear that they'll get shares for a discount, based upon them pricing the offering at today's close.
However, if they were buying that many shares on the open market it would definitely cost the buyers more money. So maybe you can make a case that that's the discount.