I tend to agree that the price was a bit low and really if the company needs money at such a discount they should give existing shareholders the opportunity to participate. I don't think they needed the money in a hurry and it feels a bit like an insiders pass into the company - I hope they really add a lot of strategic value for the discount they have been granted. The fact that it shot up fast doesn't really seem like grounds for a discount particularly if everyone involved (particularly those in the company) feel it is undervalued anyway.
Ann: A$3m strategic investment from prominent biotech investors, page-13
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