The level of supply is surprising, there’s likely to be a scale back on the SPP as I’m sure demand will be bigger than they’re willing to allocate. Selling now as an arbitrage play on the SPP looks brave for a very skinny difference.
Certainly short term one would expect a reasonable rise in SP from all the positive language around the raise, follow through will depend on concrete evidence that the funds asked for translate into deals/recurrent revenue.
Ann: $12m Institutional Placement and Announcement of $3m SPP, page-57
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