I'll throw my opinion in for what it's worth. My take on it is that Yat is trying to upscale Animoca to increase its strength and resilience prior to listing.
Upon listing, shares will be much more liquid, and a big company with deep pockets would be able to scoop a significant amount of shares if they bought at a price that shareholders would find it difficult to resist.
In my opinion Yat is using these cash raises to to increase the percentage of what he sees as "friendly" shareholders, who are not likely to sell, to a point where he increases the chances of maintaining status quo in the management of the company once it lists. All power to him, I say.
AB1 Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
