If this were a 10 million share deal you'd see it jump all over the place, even in this market. With a deal of this size, pricing is much closer to fair market.
This is the early salvo of the next generation of utility firms. It's a pretty big deal but should still have a pretty solid debut.
This deal is really speculative, but the company has enough breakthrough to turn out OK.
They were having some difficulty getting this deal done because the company is very highly leveraged. It's a very risky deal, and if it weren't for the superstar management team, no one would pay attention to it.
That's a bruise, but not a deal breaker. But losing it when they did will put somewhat of a crimp in their early valuation.
If you're a good deal you're going to get done. If you're not a good, strong, solid deal, there's no hope for you.
This is a classic Internet company and they will be burning cash like there's no tomorrow. But the deal is programmed to explode on its first day with 3.5 million shares priced between $12 and $14.