Good question.
At this point in time they still have circa $4M from the previous raising.
Raising at a historical SP low is not a good look.
Maybe the divestment of Lyramid is not receiving any interest.
They'll need a reasonable carrot to get shareholders to participate I believe, especially after the shenanigans of the last raise. In the end it doesn't really matter as the majority of the raise is underwritten.
Ann: Rights Issue, page-16
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