Ann: Capital Raising Update, page-50

Timing is everything. In an ideal world we would have waited until PL6 results were released then do a capital raise at a higher price, assuming of course results were positive.
Institutional investors rightly still see a lot of risk and I think it was a big ask to raise money before PL6 results are known.
I don’t know what time pressures there might have been with finalizing with Infineon but it seems there must have been.
We all want this done asap but this looked very rushed.
Not a good look really ……. It isn’t a lot if money . Maybe Infineon can raid their petty cash tin.