They may also be gauging the demand for more shares and upsize this offering too. The last one went from 40 to 50 and 6 to 7.5 million shares. If the demand is there maybe this one will go to from 20 to 25 and 3 to 5 million shares.
Lets see how much of a bite Edens and Nardone take of the 20M shares. Both could easily buy
$1 million and not make a dent in personal fortunes. Also remember back around Aug. almost everyone on the board jumped in, if that happens this time we need to back the truck up and load up before the spin off.
News of the last offering was coupled with a Bank of America deal for MSRs, and the pps actually rose on the offering news. Although there is not other announcement, the pps has barely dropped. On the one hand, I suppose this is a good thing. On the other, I've been sitting on some cash and looking for a place to invest it. I should have bought more when this was below $6. ;-)