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  1. 25,444 Posts.
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    howdy snowy,

    personally I think the second bigger Tranche will attract a lot of the insto and sophi money that missed out on the first round, plus those that wanted more.

    Both tranches are already fully committed snowy, the reason there had to be two tranches is that a company has limits on the
    size of a placement it can offer without shareholder approval..The first tranche filled that allowable size whilst the remainder,
    will be the second tranche of which shareholders will vote on circa the 26th of July..
 
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