Ann: Imugene Secures $5.7 million Option Underwriting Agreement, page-25

this does not make any rationale sense in my pea-sized brain.

- company is not desperate for cash ($30m)
- there is good chance of majority of IMUOA options being converted with share price high 4s/5s
- Any options not sold at 2.6c when shares are at 5c, is a good thing. Less dilution.
- IMU can than sell more shares/raise capital at market prices (less discount) and should raise more than the 2.6c.
- if your house is worth $5m, and someone holds an option to buy it for $2.6m but for what ever reason doesn't exercise... that's a good thing!! you can sell on market... unless you don't believe your house can really be sold for the market price of $5m.

the only thing I can think of is that is a favour to BP + others.... as there will no doubt be some options not exercise. Give BP UW fee plus low price options for something in future?!?! with a supposed deal coming, this could be very lucrative.