Cerhob
4m shares out of 156m+ is 2.5%, so it is not significant.
What is significant is that ATC raised the funds when all the punters around seem to be predicting the demise of this company. To me, it looks like those in the know are about to embark on "real wealth creation".
Just to restate the obvious, the main driver for this small capital raising (in my opinion) is the need to pay the vendor of FNT some cash when the deal eventually settles. If this $500k can be used for this purpose OR to assist in switching FNT traffic (which will then generate additional cash internally to pay Mr Mackie), then it seems a worth while exercise.
additional funds raised, page-3
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Last
5.2¢ |
Change
-0.001(1.89%) |
Mkt cap ! $88.95M | |||
| Open | High | Low | Value | Volume |
| 5.3¢ | 5.3¢ | 5.1¢ | $54.15K | 1.033M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1638844 | 5.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.2¢ | 64285 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| ATC (ASX) Chart |