Nice exactly the outcome I was hoping for $20m added to the kitty, minimal dilution, in-house manufacturing capability, and looks like scale back may be different for different holders and different strategies. Will be interesting to see how this is applied, seems like it won’t be an even keel scale back. A bit like Charles as we applied for max in two seperate entities one of my own and one of partners. One holds substantially more shares and options and for a much longer period then the other and has contributed to previous raising, don’t really care either way as holding more than most sane people would advise but will be interesting to see how they play this card as I have seen some other companies raises favour smaller holders and others favour larger. Both have advantages and disadvantages to the share registry. We can now put the last few weeks of madness behind us and plough forward as a accredited manufacturer of rapid tests. Well done to the board only blemish will be the options for the raise were too generous but it did raise $12M in two days so it worked and if funds we urgent to secure manufacturing and scale up agreement with Axxin will allow some rope.
ADO Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
