Seeking Alpha

DragonWave halted after announcing stock offering

  • DragonWave (NASDAQ:DRWI) plans to sell C$21.5M ($20M) worth of stock and warrants through a public offering. The offering will consist of units featuring one share and 0.5 warrants. Each warrant can be converted into a share at a specified price.
  • The mobile backhaul hardware vendor had $15.6M in cash as of May 31, and $17.5M in debt.
  • Shares have been halted.
Comments (3)
  • 48westcoit
    , contributor
    Comments (10) | Send Message
    I am pleased it is such a small amount
    I had anticipated it would be in the 25-35 range
    24 Jul, 08:12 PM Reply Like
    , contributor
    Comments (47) | Send Message
    I guess that is kinda right... Cup half full and all. This stock is going to be a big winner coming up.
    24 Jul, 10:36 PM Reply Like
  • WesleyWChow
    , contributor
    Comments (2) | Send Message
    Ended up at C$25M ($23.1M). Still not bad. I've been speculating DRWI for a while now and finally decided to buy in today. I believe DRWI will be back. It's just a matter of time.
    25 Jul, 03:52 PM Reply Like
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