Re: Offering
The factors in play include faith of tutes in current management, dilution of existing shareholders yet again, BOD sentiment, need for reasonable rates of return by shareholders, time to returns for tutes and everyone else, belief in WL "grand vision", etc. If we install a new, highly qualified and experienced CEO does the share price rise, as result does the number of shares being issued and level of dilution drop, do deals and partnerships finally happen, etc? Again, the new hires have way more experience than WL and have certainly poured over the business plan, timelines, etc. Now their options are likely already underwater and a dilution will drop their percentage of ownership - before the ink is even wet on their employment contracts. Do you think that's what they had in mind? I think not>