Just prior to/or at announcement the SP will generally trend down to the offering price, which in this case it has. We are trading around $1.61 off a $1.73 high set at the end of March. IMO the company commanded a good price for the PP, positioning it carefully at the top of a huge run. Begs the question...who ran it up??? :) Generally once the ink is dry she will find her natural place. After the run she has had I'd be looking for a correction, BUT the terms to exercise tell me that something sweet may be in the pipeline. Would love to have been an Underwriter for this deal.

What are your thoughts.

P