Ann: Renounceable Rights Issue to raise up to $15.8M, page-314

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dostorianHammer

71 Posts.

29/04/22

12:28

Post #: 61099536
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Originally posted by BoogieB: ↑

One thing I haven’t see discussed so far.

This raise has the shares selling for $.025, raising a total of $15.8m.
Management have also put their money wheif re there mouth is and partially underwritten the raise. They also plan to partake in the raise.

If the $15.8 million is raised, that means that there will then be half the amount of these shares created in Options. These options expire in 1 year.
To get these options exercised, MGT needs to be above 5c.
If it is, management have locked in another $15m give or take to contribute towards further funding. This will mean that from here on in, it is very unlikely that we will need a CR in the next year, and they will have a healthy amount for expenditure going forward,

This raise is pivotal for cementing the future of this company beyond this raise, and it also allows any current holder to be less diluted than if it was raised independently.

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why would someone exercise their rights when they can just buy at the share at the 'discounted' rate on market? (MGT SP = .028 at the moment...)

this issue only made sense if SP held up around the .040 mark as it was the day before the right announcement (...mysteriously)

MGT Price at posting: 2.9¢ Sentiment: Hold Disclosure: Held
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Last 8.7¢		Change 0.003(3.57%)		Mkt cap ! $10.66M

Open	High	Low	Value	Volume
8.7¢	8.7¢	8.7¢	$3.654K	42K

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No.	Vol.	Price($)
1	3798	8.7¢

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Price($)	Vol.	No.
9.0¢	206026	2

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No.	Vol.	Price($)
1	3798	0.087
1	30000	0.085
3	252995	0.083
2	24833	0.082
2	153712	0.081

Price($)	Vol.	No.
0.090	206026	2
0.092	100000	1
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0.098	1200	1
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