"Can some one explain why the underwriters are taking a million oppies at $2 if they thought they wouldn't be in the money"
Because they are free ?? they are getting paid $500k and are basicly taking no risk - the 4 sub underwriters are carrying the can - The oppies are a bonus ( cream on top with sprinkles ) they may be worth something or they could expire worthless like the CDUO $2.50 ones from 2013 just did !
CDU Price at posting:
$1.11 Sentiment: None Disclosure: Held