Honestly you just can’t please people. The company has delivered in spades over the last 3 months.
In the process it has held its nerves with capital management and patiently waited for the share price to reflect the stream of news they had in the pipeline. They raised capital at a 10% discount and in the process only gave away free options (remember still capital coming in when exercised, so roughly another $7m) at an exercise price 70% above 14.5c and yet we still have dissatisfied holders. I was hoping for $5m at no more than 12.5-15% discount, we aren’t a $5b company able to raise capital at under 10% discount. The only slight negative perhaps is the absence of a new large cornerstone investor, however that should come with time.
This is a great outcome full stop!
I am expecting to soon get clarity on how they will manage the delivery risk of the nation wide trial; it will be a big task and will definitely distract management. I am hoping we will get one big hire with a strong reputation to oversee it.
PCK Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
