I am looking at the current levels. We may see the February 4th top tested at $8.32, which is a FIB level, not quite unexpectedly. We still have a gap to close down to $8.25, and there is no telling where investors currently have their stop losses. When the current uptrend is lost, we'll be looking at the larger FIB retracement levels as specified on the left side.
Executive Chairman Michael Singer commented, "Although we have no immediate intention of drawing capital against this Shelf Prospectus, we have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy With our recent listing on the NYSE, our successful financing in January 2019 led by U.S. institutional investors, and as we work with Nelson Peltz to explore potential partnership opportunities, this filing is a natural evolution for our company as we rapidly mature into a global and profitable organization."
And while I don't like it, that isn't dilution. It is an option to do so "if or when required".