After todays sell off, MC ~$12mm. ~$8mm raised from the "Institutional" placement. The hedging is worth ~$12mm. Cash before the placement was a little bigger than drawn debt, so effectively a wash. Retail entitlement partially under written. So buying at 1/2 a cent should be a no brainer right?
What am I missing?
The only possible reason for this Cap Raise is a potential breach of debt covenants. If that is the case, the management should tell us.
Ann: Completion of Placement and Institutional Entitlement Offer, page-30
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Last
1.2¢ |
Change
0.001(4.35%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.0¢ | $186.2K | 16.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2315954 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 6349129 | 7 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| OEL (ASX) Chart |