Hi h-a-c,
All they have done is gone to the market and tapped 'sophisticated investors' for funding which in the Cat's case is used for funding Company developments.
It was done at a discount @ .14c (which is a huge discount now), and you can understand everybody wanting to subscribe (it was over-subscribed); so it is good for the Company although a higher price would have been better in retrospect. The only downside is that profit taking may occur in the short term, depending on the 'sophistictated investors' outlook and profit motive.
Cheers, Pie :)
PS: It would have been nice if Dr. Len would have given the shareholders a crack at the placement.
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