1.2M CR (300M shares) being done to soph investors. With that, our SOI will be 1,522,605,484. From that registrar people who hold shares can then purchase based on 1 share for every 3 held - that includes whoever picks up the 300M shares above.
If that is fully subscribed we then have 2,030,140,645 shares on issue.The catch - if the rights issue is not fully taken up, they can then offer the balance of shares to anyone. For the rights issue to be taken up, EVERY stock holder would have to take their full allocation. I doubt EVERY stock holder for OVT will take up their share. I know I won't be.
With this not closing till the 5th September, it also means there is no incentive for anyone to buy on market. I wouldn't be surprised if our SP of 0.004, remains that way until this is closed in September. I could be wrong, but we'll see.
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