Hi Spid,
The announcement states
"Cornerstone investment was provided by three significant institutional investors: a New Yorkbased ESG fund, a German-based global fund manager and a leading Australian fund manager."
The word significant rather than substantial is key so maybe one, two or none to come?
Also as far as MUFG is concerned, they have contributed to every raising to maintain their percentage (and support the company). However, EGR's stellar SP rise since the last raisings will have given MUFG an issue that they have to address. Funds have mandates which dictate things like the types of funds they are allowed to invest in, MC range, maximum percentage of any single stock etc. The January factsheet identifies EGR as the largest holding and considering the increase in SP it may well be hitting the ceiling set by the mandate. This will need to be rebalanced so I'm pretty sure they won't be in the recent CR. It would also explain them selling some of their holding recently to bring EGR back within parameters.
Short term selling will wash through and with >$50m in the bank, the SP in the high 60s, a bunch of long ESG funds locked in, the increasing global EV focus and the list of upcoming events you have detailed I'm more confident than ever in EGR.
