Hi Sure, obviously it would be beneficial to have some positive news prior to the CR so the SP is better.
They can CR 15% of the issued capital, which is approximately 246M Shares. The CR they announced with the insto's was for 123M shares due to the fact they were offering 1:1 options (total of 246M shares). Yes, they could exercise the option and we could of got a second lot of $8M. Basically the less options they offer on the CR the more money than can initially raise. CR at 5.5c for all 246M shares is $13.5M, so there is room for 4DS to raise enough.
The way I look at it, the end result of success is what it will be, but now we shareholders have the opportunity to benefit if successful, not the insto's who have not been long term holders.
Hopefully when the time comes, I make the correct decision with how much to further invest.
4DS Price at posting:
5.7¢ Sentiment: None Disclosure: Held
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