Given the size of the raise in $ and number of dilutive new shares, 30C is a good price.
The next Q to ask is why such a large raise? I can only think of a larger $ buffer as a prudent strategy to make sure the company survives any further downfall in the Spod prices. This will buy a lot more time than the speculated $60M so the next Q is whether the price will trade down to 30C eventually? Shorters who made handsome gain could find liquidity without jacking up prices typically from a short squeeze.
This also demonstrate the Chinese battery operators are playing a long game which we all know has a future prices moves up and down.
PLS Price at posting:
35.0¢ Sentiment: None Disclosure: Not Held
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