IMO this could go a lot lower before it goes higher. Qtr will likely show ~$2.5m in the kitty ($1.8m net from the offer + $0.7m cash + negligible income) though probably less. That only gives 1.5 qtrs of runway before having to come out cap in hand.
Even the last announcement featuring Affinion mentioned $3m pa at full take-up (ie not straight away and not $10m+ as has been anecdotally mentioned on this forum). That may push the next CR until Christmas bit unless NOR pulls a rabbit out of the hat I would expect the SP to go down before it goes up.
As a general rule prices go up if new investors see value. Don't think NOR is quite there yet.
$300Mill flowed into start-ups in the June quarter, page-12
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