LKE set out to raise $20 million in a capital raise…made up of:
- $15 million in a placement with Soph investors, and
- $5 million in a SPP (share purchase plan), with retail investors.
- Note, no institutional investors participated (only Sophs).
The end result (after costs of $1.5 million):
CIRCA $14.6 million.
So a $5.4m shortfall / $20m = 27% shortfall.
27% (over a quarter), less runway.
IMO DYOR
Ann: Kachi Power Supply, page-83
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