Also on page 14:
If Admedus fails to raise a net amount of $12 million in cash (which includes amounts raisedfrom Underwriters, including the $6 million underwritten by SIO, net of any fees payable to thoseUnderwriters but excluding any amount raised from Star Bright), Admedus must give notice toSIO to underwrite any additional amount required to raise at least net of costs and expenses$12 million in cash. The underwriting fee payable to SIO in this case on the initial $6 million is12.5% (exclusive of GST) instead of 3%, and 25% on any amount taken up in excess of $6million (exclusive of GST).
So SIO get an underwriting fee of up to 25%. Any wonder the SP is dropping to deter holders from participating.
Ann: Admedus launches rights issue, page-205
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