It doesn't sound like the retail component will have a chance to participate.
"As advised on October 1, Unilife anticipates completing a capital raising on or before 5 October 2009."
The wording infers that the capital raising will be completed once UNI returns to trading.
It would be dissapointing to see existing shareholders interests get diluted, whilst new 'institutional investors' are allowed to participate at a significant discount (Even before recent run-up, if its 85 cents as reported, that would be a discount of roughly 30%).
Would it be great to have an institution on board? Yes. Will that provide confidence to the market? Yes. Does that mean that this was the best way to achieve such an outcome? I certainly don't think so.
UNI Price at posting:
$1.38 Sentiment: LT Buy Disclosure: Held
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