Putting weight on the phrase, "I'm advised there has been expressed interest in the proposed Private Placement in excess of the $120 million being sought." is really not all that warranted.

The moment anyone contacted their broker concerning this private placement, and that broker followed up inquiring about the placement - the, "...expressed interest... ...in excess of the $120 million...," was accomplished. The phrasing does not necessarily mean that deep pockets with bags full o' money were pounding on the door. Although, gotta admit, it sure implies it, and makes for good advertising.

I have a sneaking suspicion that the placement was already allocated. It will likely close in time to pay current bondholders. How much the Company gave away may determine how sp reacts.