Bobert

So why did Dick issue a vague statement that resulted in a 1/3 drop in stock price to approximately $1.10?

After reading the Financial Post article there may be another reason for what happened. It's entirely possible that there was a leak prior to completion of the negotiations causing a requirement to notify shareholders, hence the vagueness.

New price channel formed appears to be $1.00 - $1.50 SP will cycle between the high and low until a new channel developes..Offering announcement was made towards the high of the cycle, shorts covered just above the low..Volume decreased on Friday closing higher than the last day of the sell off..If their looking to raise $150 million from the offering I hardly doubt it's be at the lowest price..IMO they're gonna go for 100 million shares at $1.50 or as close to that as possible..I doubt it'll go for less than the mid price channel mark of $1.25...