Following on from last night's news, this morning comes the pricing of the offer:
"...investors will receive one share of our common stock and one half warrant to purchase our common stock for a price of $1.00. Each whole warrant entitles the holder thereof to purchase one share of our common stock at an exercise price of $1.10 for a period of five years from the closing date of the Offering...." whole thing hereA dollar, you say? For a stock that closed at U$1.39 last night? Plus a juicy half warrant? I was trying not to use the word desperation here but obvious I've failed, it came back to mind too many times to ignore.
Sounds like the Duke Brothers' bet in Trading Places.