The disappointments keep coming.  I think of RIC as a turnaournd situation and the disclosure to shareholders over the last year has been very bad.  This cash raise implies they aren't comfortable with cash generation . . . maybe Franceour continues to disappoint . . .

Cleary they needed the cash.  Why would they sell equity at 10% discount?  Maybe they think the stock is fully valued?

Anybody know who the institutional investors are?  I have seen Pinetree do trades like this.