Ann: Capital Raising to Support Growth, page-3

I’m based in the US, so not that familiar with stock offerings in Australia. Is it common to give the lead manager an option to purchase shares in addition to their other fees.

The lead manager is getting a one year option to purchase 500,000 at 15 cents. Why even bother putting that in the terms. It seems in material unless the shares trade well north of 15 cents in the next year to make it payoff, or that’s just a common clause in these type of offerings.

I will be rooting for the manager to have this option payoff. Lol