Seems that the price of a placement is dominating the discussion. More importantly is the use of the extra capital to reach a critical milestone - the DFS. The placement is not that price sensitive.
Say that RWD needs $8.5 million which together with existing funds + option exercise will give RWD a comfortable run to that milestone.
Price is 80 cents and RWD would like to place $8.5 million at 85 cents - place 10 million shares.
Market wants to deal at 75 cents - place 11.1 million shares.
I cannot see that extra 1 million shares has any effect on the long term picture against getting this raising out of the road and moving to DFS in a strong position
Ann: Trading Halt, page-15
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