they had 18m in cash, why need another 20m? clarity around the...

they had 18m in cash, why need another 20m? clarity around the reason for a large war chest of cash would be nice.. large discount as well not sure if this is the company discounting it or the bankers either way i would have thought a 8-10% was large enough and pple would have jumped at It around 62-65c but 22% is absurd. happy to be proven wrong and they spend the cash well and exceed expectations, but this is made me take a step back and wonder