KK2 - Rights offerings are done in the context of the market at the time they are issued. I have only experienced Rights issues a couple of times in my life so don't know what the norm is. The ones that I experienced only had a life of less than 3 weeks.

In the contested of this conversation, if there was a deal that took out Zenith my guess is that it would positively affect the share price of RVX. Still speculating now, if the RVX share price was at $5 at that time then a Rights offering that was 5 Rights plus $4 would give them just under $120 million max. It is normal to have a number of Rights not exercised so my best guess is that in this type of scenario $60 to $80 million would be what ended up being raised. IMO Hepa would not participate as it would take their ownership over 50%.

DYODD

tada