$20 million placement closed over subscribed, page-2

Most companies say oversubscribed when announcing cap raisings. It's their way to spin the fact that a lot of larger investors are getting shares at a bargain price.
There will be a small sell off today, which seems to happen often when there is a cap raising. The smart ones will hold and at least wIt until the next set of results. Just have to be patient now. $20m is a nice figure and is more than enough to keep this running for a good period of time.