Bolt
I dont think the money for the spp is for 'tiding the organisation over' as you said.
As zmans states above they need about 15m for the DFS in the near term.
This to me seems like they've decided to fund of the DFS through the placement and also used it to get more BON holders to accept. Of course they dont know exactly how much will be bought up as it isnt underwritten so they may end up with some extra than they require but this can just be taken off the later raisings that are required
cant see the wood through the timberrr, page-29
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