Now, why does AGY want to increase its placement capacity now, right after a CR? I'm suspecting the company is working on a binding off-take with strategic investment coming our way.
In May 2017, AGY held general meeting requesting additional placement capacity:
Within 3 months, the company signed off take agreement with QianYun. QianYun strategically invested $26.4 million to obtain 19.9% of the company.
Now in 2021, the company is again asking for additional 10% placement capacity on top of the existing 15%. Whoever get those shares will own 20% of the company. Sounds familiar?
Ann: Notice of Annual General Meeting/Proxy Form, page-12
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