I hope you manage to get in on the deal, you are a big supporter, if your wanting in at 1.1 Im sure your brokers can do it, even if the lead is through another broker they can usually get an allocation, get them to do some work! you deserve to get in on a discount and actually have the money go to the company rather than when we buy on market. I think you could easily make a call to get in.
Yeah Im going off figures from the most recent anns too, and more aligned with what you said.
With currently 5.49 bill shares on issue, and if reports are accurate (still havent seen official confirmation) and the raise is at 1.1 cent for $40 mill, then it means we will have another 3.64 bill shares added to SOI, for a total SOI after the raise of around 9.13 billion.
Just doing the maths there 3.64 bill (new shares from raise) / 9.13 bill (total SOI after raise) = 39.8% , meaning basically 40% of the company being sold for $40 mill. The company is being valued at approx $100 mill based on raise price.
Any talk of partnership or big interest now has to be taken with a grain of salt, or atleast its not interest with any money behind them, if they could of got better deal than this cap raise, then they would have gone for it and even got a premium for less equity, but they instead went for a discount having to go back to capital markets.
ATH Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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