Ann: A$315 Million Fully Underwritten Equity Raising Launched, page-76

the reality is the big institutional investors desperately would have wanted this done pre FDA approval knowing that is basically a free kick in SP, say 10-15% uptick once that lands. If this had to be done, then have no doubt the Insto's would have had made it clear that their commitment to the raise would be contingent on it being pre FDA approval - and you know they wouldn't do it unless they were VERY sure that FDA is going to happen. If they dod this raise post FDA approval at say 35-40c, that is a massive swing in EV they would be giving up...