What are the chances that this offering will get filled? Pretty close to 100%.
For guys like NG at this stage in their career, it's all about reputation. By choosing to serve on the board, he is now taking on 'risk'. Why would he do this at his age? Unless of course he firmly believes it's a winner. He has vast resources thru GCIC Wealth Management to get this filled. It would be an easy sell. You get guaranteed 10% interest, and/or the benefit of a potential upside play thru the SP.
I think though there's a real chance that the IMC/Shinhan deal gets done perhaps even before this offering is fully closed. the next 3-4 weeks will be the moment of truth for us longs.