its nearly 10% fully diluted. wouldnt call that minimal dilution. how do they go from an 'enviable position with a long cash runway that allows us to continue our clinical programs unimpeded' to raising cash at a discount with 1:1 options in literally 1 week?
its short sighted to not criticise this placement without appreciating the fact that the very bod your putting on a pedestal told you only last week they had cash to continue on.
you cant keep blaming the marco for a crap cr, the message this sends is that there wont be material details released for the next 12 months so take advantage of the opportunity while you can, instos will still invest in companies that are progressing even in an economic downturn so its complete bs to say this was a good decision.
if circumstances really did change, which its highly likely they have realised they need more cash to do everything they wanted next year, pulling the wool over sh eyes leaves a bad taste. put in the ann, we have performed a cash flow analysis and this raise was necessary in order to achieve xyz but they didnt. the terms show this as having been done from a position of desperation not one of power.
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