Ann: Pilbara Minerals Equity Capital Raising, page-41

Given the size of the raise in $ and number of dilutive new shares, 30C is a good price.

The next Q to ask is why such a large raise? I can only think of a larger $ buffer as a prudent strategy to make sure the company survives any further downfall in the Spod prices. This will buy a lot more time than the speculated $60M so the next Q is whether the price will trade down to 30C eventually? Shorters who made handsome gain could find liquidity without jacking up prices typically from a short squeeze.

This also demonstrate the Chinese battery operators are playing a long game which we all know has a future prices moves up and down.