The private placement closes Nov. 27, not Nov. 20:

here is the link

Yes, there is a gap between the PP $3.80 and the current price. No news makes a stock slide a bit. It has been suggested, and I think this came out of the SF show, that Kodiak sees no point in issuing news just before US Thanksgiving and a week before PP closing.

Perhaps it's like lovemaking - the foreplay has to be in sync with the actions. I'll leave loose lips out of it.

Kodiak will want to get maximum bang for their buck. I'm sure that the date of the private placement and its close wasn't chosen randomly - the investment banking people know very well the importance of one date vs. another.

I expect that news will arrive "just in time", certainly for $55m. In the meantime, I bought today. It can challenging to buy when it's down and sell when it's up, but it's advisable.

Put on some love songs and relax.