What is the likely floor price when the CR takes place? We know that Convertible Notes would be a disaster because of low liquidity, so a placement seems to be needed. The current SP is about 37 cents so a 10% deduction would leave an issue price of 33.3 cents; and a 20% deduction an issue price of 29.6 cents.
$10 million at 33.3 cents would require the issue of about 30 million shares, while $10 million at 29.6 cents would require nearly 34 million shares.
KZA might decide to delay a CR until the last minute, hoping for good trial news. Perhaps they might try to raise a bridging amount now of say $4 million; then wait to see what happens?
Perhaps one of the enthusiastic US trial sites will provide funds to Kazia? Would that be a world first?
I suspect that some here who are close to the Company know what is planned. Any clues?
KZA Price at posting:
37.0¢ Sentiment: None Disclosure: Held
