Does the amount raised include the underwritten amount or is that going to come from the placement of the shortfall shares in addition to the amount in the announcement.
The announcement is silent on this and the placement of the shortfall shares.
However, at current prices the placement of the shortfall shares will struggle but could get away over next 2 months if the price recovers
It sounds like this is all they going to get and with a cash burn of $1 million per month they will need to come back in a few months for more.
Again LIT announcements are never clear
Ann: Closure of the Rights Issue, page-5
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