definition of underwritten

There seems to be some uncertainty on whether GOA will be recieving any funds at all and whether 'the capital raising will be successful'

1) GOA "has successfully raised approximately $2.1 million via a placement"

So the placement is done and dusted.

The second part of the capital raising is an "underwritten Share Purchase Plan". Below is the definition of underwritten from Farlex online dictionary


Underwritten:

1. To assume financial responsibility for; guarantee against failure

2.
a. To guarantee the purchase of (a full issue of stocks or bonds).
b. To agree to buy the unsold part of (stock not yet sold publicly) at a fixed time and price.

3. To support or agree to (a decision, for example).

Therefore, Patersons have guaranteed that if current GOA shareholders do not take up their entitlement, they will.

Conclusion
1) $2.1 million has already been raised
2) A further $2 million will be raised from current shareholders or Patersons
3) The capital raising CANNOT be unsuccessful because half is complete and the other half is "guaranteed"