My guess if the Directors are scraping the bottom of the barrel to survive, they will/should participate in the capital raising to show retail investors some confidence on achieving their belief of profitability second half of FY22 (carrot warning).
Nasdaq listing seems too far away from eventuating they will have to re-submit financial documents 6-9mths+ process time if I am not mistaken, this is not a short-medium-term carrot, SZL merge maybe depending on agreement conditions, what other carrot is there to entice investors besides a steep 20-30% discount ~$1.65?
Ann: HY22 Results Update, page-117
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