Apparently investors can not do math or my math is completely wrong. The ITRI press release indicated 3,162,500 total shares were issued netting $160,623,375. Coincidentally they did not do the math for us, and did not provide a per share value.
Dividing one # with the other I get a $50.79 share offering. Yet the market has completely ignored this huge discount. I mean... seriously... ITRI offered their shares at a market discount of 13-15%!!!!
Interesting... But I'll wait until ITRI approaches 52-55.