The dilution will more than double the shares on issue.
Here is the explanation of what will happen:
Total number of shares after rights issue: 200m (current) + 220m (full raise) = 420m
Share price: 0.5c
Market cap: 2.1m (assuming 0.5c share price)
Cash: 1.3m*
*assuming 238k outflow for quarter and 70k expense on the raise
Enterprise value: 0.8m
The dilution will more than double the shares on issue. Here is...
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