Normal
A very strange deal... GCL to take $120m (5%) of LNC at $4.50... or 30m shares.Who in their right mind accept placement at $4.50 a share when the last traded price was ~$1.10. Even with the sharp rise to $1.40 today, you are only down ~$100m straight away!Wouldn't they be better off just buying the 30m shares on market for $1.10-1.20, then loan the rest of the money to LNC at so minimal interest?Great deal for LNC, however.On the charts - $1.50 resistance was in sight but probably won't be breached today. $1 support was tested again last week and proved firm. That's a pretty big trading range being established..
A very strange deal... GCL to take $120m (5%) of LNC at $4.50... or 30m shares.
Who in their right mind accept placement at $4.50 a share when the last traded price was ~$1.10. Even with the sharp rise to $1.40 today, you are only down ~$100m straight away!
Wouldn't they be better off just buying the 30m shares on market for $1.10-1.20, then loan the rest of the money to LNC at so minimal interest?
Great deal for LNC, however.
On the charts - $1.50 resistance was in sight but probably won't be breached today. $1 support was tested again last week and proved firm. That's a pretty big trading range being established..
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