Ann: $5.9m Fully Underwritten Capital Raising to fund Hobart DC, page-30

yep, they get sucked in by the discount, Wowzers from 5c to 1c ? bargain ?

oops there is another CR, and a shizer of shares getting issued.

If you thought the flood from 5.5c was bad, see above
https://hotcopper.com.au/posts/43948143/single

then wait for the monsoon at 1c.
Hence expecting with the 1-1 free option this to be sold under that form, to maybe 0.8c

It has nothing to do with value. Its all about the behavior of the underwriter to get their coin back.
And when the pot is soured, the burnt fingers stay out, and the pattern continuith.

And if the company doesnt reign in expenditure, and deliver recurring revenues, the cash burn will see this going to a consolidation, and repeat.

Its an interesting juggle after that is all washed out. Does a value buyer come in at 0.8c ? would someone else see more in it, to pay out at say 1.5c ? That trade is all i'm looking at. Are there enough believers to outweigh the disillusioned ? The believer has to have a faith in the sector, and the growth, while ignoring the destruction of script gone through.