Acuity have been issued 7,050,000 shares at 15.6c so all that selling today is likely them washing this into the market capturing an immediate profit.
The company gets the cash without a massive amount of time or energy or cost of a capital raise so its a win win really.
Everyone knew this was coming, its why the facility was set up in the first place.
You either believe management and in the asset and know there will be a liquidity event soon enough at a price hopefully higher that the current SP or you exit.
Why so many here are crying or are shocked my management's behaviour is surprising.
Sadly I think this is now a death spiral so who knows where it will end.
Lessons here on how inexperienced management can ruin a terrific resource.
10x
Ann: At The Market Raise, page-41
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Last
12.0¢ |
Change
0.005(4.35%) |
Mkt cap ! $70.03M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.3¢ | 11.5¢ | $131.4K | 1.097M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 449789 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 181479 | 8 |
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| Last trade - 14.51pm 02/10/2024 (20 minute delay) ? |
| GLN (ASX) Chart |