The share price was higher when the entitlement offer was made. Financially, right now it makes more sense to buy on market. The main difference between buying on market and via entitlement offer are: 1. Buying on market just gives capital to another shareholder. Buying via entitlement provides the company with that capital; and 2. You receive free-attached options with an execution price of $1.74.
The options give you the right to buy at any future time, until the expiry date, at a price of $1.74.
Not financial advice or a recommendation of what you should do. But at the current price, it's likely to make more sense financially to buy the heads ($ASM) on market, and then see if anyone is selling the options (I'm guessing $ASMOA) when they start trading as well. You might be able to pick them up for a few cents each, which still represents better value (i.e. $1.01 + $0.05 per share + option) than the entitlement offer price. The risk in that theory is that no one sells their options, or not until there is price movement so that it looks like they'll be in the money.
ASM Price at posting:
$1.01 Sentiment: Hold Disclosure: Held
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