From a TA perspective, if SPT can hold above $1.36 (floor price of a wide channel), it should bode well for the sp next week if markets remain stable to positive.
According to their ASX filing on 5Aug and the SPP booklet, the $10m(7.7m shares) SPP are tradeable today and i believe the $45m(34.6m shares) Tranche B Placement commence today as well. So naturally, there is a risk some portion of these newly issued shares will be sold today or soon after. However, i would find it hard to comprehend if any institutional investors would sell out now for a tiny capital gain. Instead, i take some comfort from the fact that Directors have committed more "skin" in the Placement to the tune of $1.8m in total with the same terms (see caption below - Pg2 second paragraph of ASX filing).
Therefore i see $1.36 as my key TA support line and $1.30 as the backstop IMO. I could be completely wrong but now that this $10m SPP/$90m Placement corporate action is over with the main focus will be on the Fundamentals - barring another market correction.
From a FA point of view. Put simply, the business is in better shape than 18 months ago when they hit $2 back in March2019 not long after their IPO. In can only get better from here on.
All the best.
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