ambulance chaser, page-70

[29101971] "Either way, we will know in 1 week (March 27) I suppose."

Maybe not. According to the prospectus, the closing date may be extended until April 17.

And unfortunately, BMN considers the underwriting agreement to be confidential and will not release the details.

If you wanted to buy a large amount of BMN without affecting the share price significantly, doing so via the prospectus would be the best way. But who would do so when they are not afforded the confidence that the underwriters will step up to the plate when needed?

I completely agree with Phil1; the company will "suffer terribly" on the public placement falling over. The market tends to factor in probabilities well before the event - and it could well be argued the market is predicting BMN has a cash crisis on its hands. But... BHP fell by the GDP of a small country today, so who knows. Maybe its just widespread market capitulation.

Assuming the placement fails, a private placement is always possible - but at a discount to the already smashed share price. Or perhaps the directors can sump up more $ - which I recall is exactly what kept PDN going for a number of years.

Fingers crossed they raise the money. If they are sitting on more lab results, today (Thursday) would have been the day to release them...

Areo