The institution got a good deal, because the discount didn't take into consideration the current value of the June 25 options.
Anyway, they got 386 million short dated options.
If they take them up that's another 3.47 million. That means that if all the options are exercised, the company will raise around $17 million. That's quite a significant injection of funds.
I guess the problem is that they are raising in AUD but spending in either Euros or USD. Still their sales are in Euro or USD so hopefully one day it will swing back.
The institution got a good deal, because the discount didn't...
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