The US IPO was done in a fairly bad way. It was done at a discount and then with a further cheap warrant on top, which encourages immediate selling of the US shares (while retaining the warrant), driving down the SP low and quickly.
Optimistic view: Management hold shares too, and consider it an overall positive because of the potential of US grants/loans/partnerships/the road being more available to US listed companies, even after considering the dilution.
Pessimistic view: They made a bad decision by listing on US, instead of just raising on ASX, and thus incurred unnecessarily high dilution.
I don't understand the grants situation enough to know whether the US listing helps in those situations or not.
Side note: any US funds who were holding NVA:ASX may be more than happy to sell their ASX shares and buy back cheaper in US.
General Chat, page-7835
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