Last week, the company completed a secondary stock offering.
Not only did all of the shares sell, but the underwriter exercised in full its over-allotment option to purchase additional shares.
In other words, they like the stock and want as much as they can get their hands on.
The proceeds were used to pay off millions in outstanding debt under its existing revolving credit loan.
So this company's balance sheet is healthy, and the firm is in a much better position financially.
Coupled with the fact that the CEO, CFO, and a high-level director all made large purchases in their personal accounts immediately after the stock offering was announced, there's a very good chance that this penny stock is about to take off.
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