Hey mate, where did you get these numbers from? The latest top40 I have has the total top 40 with 580 Million with the top 2 Octagonal 132 Million (I'm guessing this is Gandel) and Rogers (32 Million). Maybe they have a bunch of subsidiary accounts but I'm doubtful.
My concern is that most people wont participate (enough to clear the debt) and we end up raising only a small % of the total intended in which case the company is still at risk. This is done at a huge discount, so if the company does pull through then the dilution event benefits a few who take the risk.
My thoughts are there shouldn't be a dilution %. I'd be much happier to pay 10-12% in interest while the company pays off its debts, then get unnecessarily diluted. This whole situation just kind of sucks.
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