I look at this somewhat differently. I think POET needs some cash, and now the underwriter is king, so I am not expecting any kind of current pleasure out of all this.
Let's just say the offering price per unit is set at .60 (the shares and warrants will be packaged as one unit), the first thing you need to do is subtract the value of the warrant from that. I'm just hoping that the warrant component is a half warrant per share, and that it's exercise price is close to $1.00, exercisable for no more than two years. A warrant strike price at too close to the then current market price for a share will not result in celebration by this board, with me certainly included.
We're going to learn the current relative strength of the company v the underwriter as a result of this offering. As always, I'm willing to be pleasantly surprised.
