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$1.49 race oncology ltd

Ann: Bonus Options Prospectus, page-6

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22/11/23

09:41

Post #: 71035822
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Originally posted by Titans19: ↑

Geez I'm so glad we were able to come up with a plan within a budget that suits our existing cash reserves and didn't do a CR that would create dilution.

Hang on a minute... 8.1m options at 75c that are already in the money and expire in 6 months from issue (geez sounds good to me, but is pretty heavy dilution), and 24.4m piggyback options at $1.25 that expire 24 months later (geez that sounds great to me, but again is pretty heavy dilution)..

32.5m shares issued for $36.6m for a strategy that has the first RAC trial commencing in 9 months if everything else falls into place... hmm???

Not sure this is any better than the, "we will find non-dilutive funding options" (otherwise a future CR will be required in 2024 when we are within an AML trial and most likely have the BP interest for the mBC trial) plan DCB had.

https://hotcopper.com.au/posts/69499801/single

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Agree, this is basically an entitlement offer. Calling them loyalty options is trying to disguise the fact that it's a CR at ~20% discount.

At least it's for existing SHs and the first raise is a small one. The larger one in 2026 isn't priced at much of a premium on todays SP though.
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