Just issuing 65 million to the underwriters at 6.75 will take book down a few cents, but price is WAY too low relative to gaap book.
"•Book Value (shareholders' equity) as of December 31, 2012 was $2.3 billion or $7.29 per diluted Common share outstanding. The Company previously reported on February 13, 2013, that it estimated its then-current Book Value to be between $6.70 and $6.76 per diluted Common share. "
Also, a pretty poor estimate just 9 days ago. However, the difference is in longs favor.