"Worse case scenario we might get 15% diluted... but would get us to final stage and could be worth 400% more... Plus shares most likely for instos not retail. So dont have to worry about dumping."
Beg to differ - sophisticated investors and institutions routinely take place in capital raisings and quickly onsell for minimal gains (10-20%). It is a volume game, and they (generally) seek to minimise risk through consistent, incremental net gains in these scenarios.
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