its 22 - had it open with another pdf... sorry for confusion.

first take aways (to be continued/ feel free to add and sort points):

- seems like an international case (to often they relate to EURIBOR, LIBOR), agents, international regulation

- its states that proceeds from "the shareholder" will not be transfered/ available to the comapny (sankar keeps the powder dry - whatever the think of playing)

- multiple tranches are possible for the sale of securities (think that topic was mentioned before - in relation to stock price developement - minimize dilution)

- proceeds can be (partly) used to finance negative cashflow (if you buy something/ expand one needs WC to get the ball rolling - (show profitability in Q1/Q2 17 - then burn the fireworks)

- $250 million (we are talking USD) - another indicator that we are not talking a regular share issung -> would be usually done at the home stock exchange/ currency or am I wrong?

- unlimed right to issue shares (sounds bad - but I dont see it as that bad, one needs freedom not to relate to amounts at certain prices - every number mentioned would set expectations)

- Proceeds will go into growth

- No dividents planed for the future

- Terms can/will change for each supplement of the offerings under the prospectus

- unless differently specified: cash will be used for general corporate purposes, including funding ongoing operation and/or capital requirements, reducing the level of indebtedness outstanding from time to time, discretionary capital programs and potential future acquisitions.

- we are also talking debt, convertibles and shares

- not really getting the role of Bejoy - can anybody educate me on this?

...

My opinion:
For me this is a quite general tool to give Richard & Sankar the room to maneuver the company through the growth period of the next 24-48 months. Building additional capacities takes about 24 months - I think the capacities in Kamenz (GER) are filled with orders at the middle of next year (expecting some more customers). Mississauga I cannot estimate. Think we are arriving at a "go big or go home" situation in 3-5 year, hence they better get there running shoes on. Have a good feeling so far. Money is cheap now - their technology ready and proven. Execution is what they have to do now. Richard did it before. So get the shipments out the door and grow healthy.