They accepted oversubscriptions.
They warned everyone that dilution was coming and offered a very attractive way to avoid it. I took up my entitlement and was initially concerned that I may have been a mug, particularly given the poor take up by management. Now they have enough funds and I have effectively increased my holding.
The next CR I would expect to be at a higher SP. I also expect some non-dilutive funding to start coming RFX's way. With a bit of luck, the market cap will recover to pre-consolidation levels and beyond.
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