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3.57%

14.5¢ arovella therapeutics limited

Ann: Placement Offer to raise $2.76m, page-29

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Holmesearth01

7,462 Posts.

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16/12/20

20:56

Post #: 49633806
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Originally posted by Dpowell: ↑

If anyone can provide a rational reason for them placing $2m in a term deposit last quarter - which theoretically could get them through most or all of next year and then raise another $3m right now I am all ears. If they were going to make an acquisition, surely it would make more sense to raise at the time of the acquisition and sell that upside to shareholders to rerate the share price higher?

To be clear, according to the release management have singled out "strong supporters" of the company to place out stock to. So in doing so, they are diluting other ordinary shareholders by 25%.

To top it off, directors want all shareholders to approve their own participation in the placement.

Couldn't be happier to have voted down the remuneration and bonus AGM resolutions.

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I’d say they are raising now to go shopping for a new bio deal
watch this space !!

SUD Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 14.5¢		Change 0.005(3.57%)		Mkt cap ! $152.5M

Open	High	Low	Value	Volume
14.5¢	14.5¢	14.5¢	$11.32K	78.11K

Buyers (Bids)

No.	Vol.	Price($)
6	89968	14.5¢

Sellers (Offers)

Price($)	Vol.	No.
15.0¢	399771	12

View Market Depth

No.	Vol.	Price($)
5	55486	0.145
10	827954	0.140
12	374029	0.135
9	368815	0.130
9	532775	0.125

Price($)	Vol.	No.
0.150	399771	12
0.155	288371	5
0.160	320250	7
0.165	550062	6
0.170	381746	7

Last trade - 10.00am 23/08/2024 (20 minute delay)

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