The convertible is twice the size of the cash raised through the last couple equity offerings. Those going to the annual meeting please ascertain why so much more money is needed at this point in time (a few months after the last equity offering),, when BCART is already holding 100 million Euros. Get specifics on how the and what programs will be funded to add to shareholder value. Hopefully the money accelerates important programs.
I'm worried about a 2nd darker implication. BCART and many other firms may sense that the financing window is likely to close in the near future. Therefore. they are trying to improve the balance sheet while the market is receptive. In the US, there are a ton of IPOs (Lyft, Uber, Beyond meat, AirBnB, Pintrest, slack, etc). Yesterday, Softbank (essentially a fund of tech investments) said it was likely to launch an IPO. triggering many to question whether these were signs of a market top as indicated by insiders cashing out.
I try to let the fundamentals of the investment speak for themselves, but these macro factors would likely affect all markets and equities.