One good thing about not raising much is that the sell off after placement won’t have that much of an impact. If there wasn’t a procedural stuff up they would have issued approximately 10 m shares that may only be 5 m now. Of those some may have already sold existing holdings to take advantage of the spp, some may not sell after spp at all.
if there is a sell off it will be minor.
Im convincing myself that the sale has been done but they want to raise the $1-2.m. because it may take time to finally close out deal and receive cash, but definitive agreements and unconditional offer may be done this month straight after spp concluded.
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