I’ve got no issue with the raise. They need to show they can finance projects in order to get government grants. There’s plenty on offer and this raise just makes applying for any and all grants possible and increases the chances of winning the grants.
I’d say this may be the last chance for management and sophisticated investors to get their fill before the Plainum Partners finance package is announced.
Ann: DEL Announces $4.5m Placement and Share Purchase Plan, page-10
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