As a result of the positive announcement, I would assume the rights issue will be successful & over subscribed if allowed.
In my opinion, they should set the rights issue price at $1.00 as I see no need to have it heavily discounted.
If set at $1.00 then a 1 for 20 or 1 for 15 should suffice with over subscriptions to a maximum of $10 million would be about right.
That being the case, existing shareholders will only be able to add a small percentage to their holding with the rights which means that now SMN has certification, if that is for what you have been waiting, now is the time to add to your holding before the real surge in price occurs.
Ann: Breakthrough FAA Certification, page-70
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