No one paid $2.38 for the placement. Only WR1 gets the benefit of that through a magical tax avoidance scheme for donors.
The donor pays $2.38 but then sells them at a loss to local sophs / instos at $1.22. They get the tax benefit and locals get the discount below SP. While the raise is good for the company in terms of cash raised vs. shares diluting the float - short term it's shitty for shareholders as the price is where it is right now (3rd day below CR price).
What I want to know is what stopped them setting the raise at $2.38 and $1.37 locally if the raise was so good for WR1? The discount was shitty, timing was shitty and the short term SP is suffering because of it. I get the long term upside of doing it this way, but irked around the fact it had to be at $1.22. Screams of no leverage.
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68.0¢ |
Change
-0.050(6.85%) |
Mkt cap ! $147.1M |
Open | High | Low | Value | Volume |
73.0¢ | 73.0¢ | 68.0¢ | $388.7K | 552.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 8049 | 68.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
70.0¢ | 12950 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 8049 | 0.680 |
1 | 3430 | 0.675 |
3 | 19442 | 0.670 |
6 | 32196 | 0.665 |
5 | 84025 | 0.660 |
Price($) | Vol. | No. |
---|---|---|
0.700 | 12950 | 1 |
0.705 | 2442 | 1 |
0.710 | 4232 | 1 |
0.720 | 7800 | 1 |
0.725 | 645 | 1 |
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