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40.0¢ opthea limited

Ann: Change in substantial holding, page-11

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whytee

16,683 Posts.

2379

22/10/20

00:05

Post #: 48285632
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Originally posted by ahm100 ↑

Some commentary in todays AFR:

Underwriting the whole thing ($US160 million float that only raised $US$128M) was Citigroup and American boutique SVB.
And for their effort, they charged 7 per cent of the gross proceeds.
Which by our figuring works out to $US8.96 million, or A$12.6 million.
This is the kind of fee stock promoters spruiking tin pot miners wish they could charge.
Which, coupled by the shortfall, suggests finding investors in the biotech wasn't easy, even for a big bank like Citi
The dual listing, Opthea managing director Megan Baldwin told the Oz, should allow the biotech to find a big pharma partner from a position of strength. Given the deal has, so far, cost shareholders a fee the equivalent of 2 per cent of their market cap while tanking the share price and raising a quarter less than flagged, you'd certainly hope that works out.

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I guess all that tells us is that some commentators are happy to blag the company. It has all the sophistication of an HC posters down-ramp
It's certainly true that shareholders have taken a hit with the dilution. But where else was the company going to get the cash? It goes with the territory of attempting to do trials for new therapies.

Last edited by whytee: 22/10/20

OPT Price at posting: $2.39 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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Last 40.0¢		Change 0.015(3.90%)		Mkt cap ! $486.2M

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No.	Vol.	Price($)
17	81477	39.5¢

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Price($)	Vol.	No.
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