Ann: Trading Halt, page-89

20c is around a 9% discount to 5 day VWAP... which is very reasonable. It is unfortunate indeed though that the market got jittery last week and sent us back to the 20c mark, and if IVZ was trading today we'd probably see low 20c again given the wider market sell-off... otherwise if we had kept up in the high 20c all of last week and today then yeah, maybe the raise could have been done at 25c instead.

I feel like this raise will trigger the next round of news on the remainder of funding and perhaps sends a message to the potential partners that we can raise funds outself when needed (a farm-down including 33% of costs to another party entering seems to be the current assumption still even with this raise).

Honestly though, I still would have preferred to see today's CR be for 3x the amount so we could have funded the whole campaign and maintained our full interest in the project.