100% this is a wonderful raise the SP hasn't been above 80c until the 10th of April 24 really. That's 8 days ago...
They have 616M SOI, so A$70M for 14% dilution. For perspective in Dec 23 the SP average around 35c, that would be 200M shares issues at that price just 4 short months ago. By raising when they have and after such a good announcement they are reducing the dilution.
Importantly with this cash in the bank there is a very clear runway to drive a large sales increase and large inventory build in preparation to clearly what they see as a large NATO contract.
Ann: $70m Fully Underwritten Placement and up to $5m SPP, page-29
Add DRO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.24 |
Change
0.055(4.66%) |
Mkt cap ! $1.077B | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.25 | $1.16 | $13.08M | 10.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5865 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 37064 | 3 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| DRO (ASX) Chart |