How on Earth did this item surface, rambleon? And how can the book on the placement be closed already without shareholders getting a sniff?
The article completely undermines the point of a trading halt if it can be relied upon - and it looks like it can. If it's true, it narrows down our weekend's speculations quite a bit! If Archer had asked IBM for money it would have been flooded, so Archer clearly wants to independently fund something urgently. Maybe something for the ADF; maybe cranking up to manufacture the lab on a chip; maybe.....the weekend stretches before us.
As for dilution, it's only about 13.8 million shares' worth or 6% so nothing too painful. I have shared HongKongPhooey's experiences of CRs with small-cap firms, but so far AXE has been the shining exception. I hope their integrity continues.
Roll on Tuesday.
Ann: Trading Halt, page-54
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