I agree with @mwatts entitlements will issue on same term as Sophs CR - the price is dropping because people are panicking and milestones are not being achieved at the rate foreshadowed. IMO the company needed immediate cash or it would have done a rights issue from the outset. Rights issue take a lot longer to get the paperwork together which suggests that the paperwork not being in the bottom drawer and ready to go the latest CR has been brought forward - this is not necessarily a bad thing
Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-405
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