Yeah, it's taking a bit of a hit. As Wolf411 said earlier, "Looks like your wish has been granted. TD Waterhouse has just sent out a new issue notice for a LSG bought deal at $3.50 a share."

This looks a lot like what just happened here recently with the latest PP of SGR which was set to $4.00, and the SP then dropping somewhat below that.

This may be another good opportunity to play LSG.