RHY

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6.2¢ rhythm biosciences limited

Ann: Close of Rights Issue, page-10

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ShmoShady

534 Posts.

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22/03/24

09:28

Post #: 73007077
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Originally posted by josiejow37: ↑

I don't believe that the situation is as dire or 'black and white' as some here would like it to be. If I may offer some less emotive, more rational perspective...

In fact, the target figure for the raise of $6.6 million is an absolute best-case scenario, it would involve every shareholder participating to their full entitlement (which was always very unlikely). Of course, the company is going to aim high when publicising the raise, especially in terms of what the funds will be used for, it's a marketing exercise after all, essentially the correct way to go about the task.

To date (approx one month into a 4-month raise) 38% of the total shares outstanding have participated in the offer, which is pretty good all things considered. Around $800,000 has been tipped in by the Board members and the other $1.7 million by other shareholders. Importantly there are now enough funds to complete the new test kit design via the CMO in North America, and as this progresses in the near term, it's sure to boost the share price.

It is quite conceivable that interested new and existing investors will be hedging their bets somewhat, and may well take up some of the shortfall now that they can see there has been a reasonable response in part, certainly enough to fund the all-important Colostat product refinement. Should the share price increase over the next 3 months as this work materialises, then the shortfall shares are likely to sell fairly easily, especially with regulatory applications the next step!

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There’s nothing ‘rational’ about your perspective. There’s nothing rational about buying something more expensive when a cheaper option was there, staring at you, right in the face.

you already done goofed by saying 80% will partake in the CR. and look at the outcome of that lmao.

you really don’t know when to take the L.

RHY Price at posting: 10.0¢ Sentiment: Sell Disclosure: Not Held
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Last 6.2¢		Change -0.004(6.06%)		Mkt cap ! $15.41M

Open	High	Low	Value	Volume
6.3¢	6.5¢	6.0¢	$27.02K	433.8K

Buyers (Bids)

No.	Vol.	Price($)
4	132970	6.0¢

Sellers (Offers)

Price($)	Vol.	No.
6.2¢	32871	1

View Market Depth

No.	Vol.	Price($)
4	132970	0.060
1	59000	0.059
1	17241	0.058
1	54545	0.055
1	19625	0.051

Price($)	Vol.	No.
0.066	30000	1
0.070	76753	3
0.071	150525	1
0.072	2245	1
0.075	9200	1

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RHY (ASX) Chart

Ann: Close of Rights Issue, page-10

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