Yes it did John.   What we do not know is what discussions and agreements went on between the time the prospective was announced and the release of the details of the P.O.   The price was "set" at some point before Oct. 28th.  It would have involved Rodman and other brokerage firms I would guess.   If memory serves, the stock was halted for a short time on that date at the opening.   The price was a done deal, and yes, so was the total amount.   Investors had no pre knowledge as to the terms of the P.O. whatsoever until trading resumed on Oct. 28th, after that N.R.

I imagine it must have been a difficult time for Poet management to accept those terms.   I believe it was the reason why the CFO resigned, officially some 10 days before the P.O.

I hope they had raised enough money so that we don't have to go through another episode like that again.