It seems pretty clear from the wording in the "Supplementary Prospectus" that the new investor failed to pay up (despite OGX chasing them up) and so OGX management had no choice but to terminate the offer. Would be interesting to know if (and why) they got cold feet? Or could be that they were actually keen to proceed but just weren't able to come up with the cash? It's possible that OGX management don't know the real reason either ...
OGX Price at posting:
17.0¢ Sentiment: None Disclosure: Held