Ann: Successful Completion of $120m Underwritten Placement, page-238

It makes me wonder if a company like this would end up a takeover Target. I think someone else mentioned that previously on this thread. Loads of volume lately

I'm not going to pretend I know a lot about the industry but there are some interesting discussions here. One point I would make though, is that a large capital raising like this was not sought from ordinary shareholders. It was entirely filled by institutions and I would imagine they have done some homework on this. That's just a discussion point though. It's s not a criticism of your point because you make some good sense there.