you would presume they are raising small amounts to get them by whilst they sew up the bigger deal that will create the value they see as being more beneficial than the 28c a share offer. I do get that announcing the takeover offer, rejecting and immediately raising capital at whatever the price got to would also be considered poor form. In some ways they were damned if they do etc. We can't really compare raising $500k at 10c with accepting an entire of asset offer. They are apples and oranges.
but would be good if, when they know they had no choice but to announce, they could have given a bit more detail as to the why and where to from here. But again, i suspect they know they are about to get things moving so they don't feel they need to. Give it a couple of weeks and then see what has happened.
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