So... we have a cap raise imminent.
Time to play nearest the pin.
I'll kick-off with $1m in con notes with a flexible draw-down.
CT1 needs to reassure the market they're a going concern. $1m would send a good signal. With the restructure in place, this would give the company a reasonable runway and buys more time for the Board. A flexible con note structure means they can elect not to draw-down the full amount if they decide to progress an acquisition and separate (much bigger) cap raise.
They need to act very soon, so I reckon an announcement next week.
I wouldn't be surprised to see FGF participate given they have flagged CT1 as 'highly strategic'.
Anyone else?
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