"$55m raised, $42m to go Assuming 50% minimum take up, that would be $76m in the bank - not too bad"
You think it will be "not too bad" if they don't raise the capital they need, despite the steep discount, and despite the offer price being an all-time low?
Here's some food for thought:
Given the slow time of year, and given the lack of general retail investor interest in the equity market, it won't take much effort for short-sellers to keep leaning on the stock for the next few weeks to maintain it at around $0.30.
Which would make your 50% figure nigh on impossible to achieve and the company would be lucky to get 10% of the remaining $42m required.
And that is not going to be a good thing at all.
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MSB Price at posting:
30.5¢ Sentiment: None Disclosure: Not Held
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