I love the rights issue being the larger chunk, means that existing shareholders have the opportunity to minimise the dilution of their shareholdings. Capital raise at such a small % to current price is a positive given many sophisticated investors would be under water previous capital raisings...take this as Chemphys being most likely the to sign offtake agreement sooner rather than later. Why would they support the placement if they hadn't done due diligence or had concerns regarding the company?
Ann: A$25m Capital Raise to Support Full Funding of HMW Phase 1, page-22
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