Like everything we have lots of things to speculate about while we wait for the details.....What was our MCap before this offering?  I'm gonna say it was about $900 million CAD....it was in and around that number anyway.  Now I'll peg it at $700 million CAD....I know that's not perfect, but its reasonably close.  

So the Mcap has dropped a little over 20% on this offering news.  

This would imply....if the Market has pegged Resverlogix's value in and around $900 million CAD, that this dilution is expected to be in the neighborhood of 50 million shares.  

I'm not saying this is what will happen....just that this is what the "Market Reaction" reflects.  I for one don't believe for a second that the company would try to raise $150+ million with an offering right now...at most maybe a third of that would be my guess, $50 million at the absolute most.

Ultimately I think the market has severely over reacted to this news.....perhaps its simply a case of lots of players having the same thought at the same time...."hey, look here...Resverlogix is doing a best efforts offering....let's go short".....

I'll be buying more tomorrow.....if this offering does somehow end up being withdrawn that would be awesome imo, but at this stage I'm thinking it will probably go through....for maybe 10 million shares.  10 million would mean about 5% dilution, not the 20 odd % the market seems to have factored in based on the drop in MCap.