you are viewing a single comment's thread.
book isn't what it is with other companies, pmi has 150m of debt face value that is marked away to market, that alone brings book down to 5 a share, a 15% discount to that and you are in the low 4s, which is probably where it should price.
That is the worst situation. It may touch middle 4.
by the end of the year it will be below $3, even more guaranteed now that there will be so many more shares, they aren't raising enough capital to get them through.