This tells me that SH have probably failed to hit the $3M target, let alone my hoped for $6M. That's not great news, but it shows why the issue was underwritten and why the top up facility is there, so hopefully the project financing can still proceed on reasonable terms.
I don't think SH needed more time to participate in the SPP, but maybe some larger SH asked for more time to participate in the top up facility, which I think requires professional investor status that they may have needed to arrange.
All you SH who have been incessantly bagging this capital raising and management should give yourselves a good pat on the back for souring this issue. If you were even slightly clever you would have let the issue proceed without criticism to minimize shareholder dilution and then taken your grievances up at the meeting. Thanks to your fine efforts I suspect that more shares will now go to Patterson's than would otherwise have been the case.
It still amazes me when people shoot themselves in the foot and then come back and shoot the other one for good measure, all the while blaming someone else! Whatever happened to common sense?
