the company is saying that the raise was underwritten, i.e. they had firm commitments for the entire raise regardless of how many institutions actually bid on the day. essentially a fund/entity would have backstopped the entire raise
this is stated on the raising details, which they 100% were not yesterday in emails to potential bidders
then today they release their post raise announcement saying it was 'fully underwritten' - potentially making it sound like there was more support/bidding then there actually was
Ann: Successful Completion of $120m Underwritten Placement, page-39
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