Hi Matty correct me if I am wrong but my interpretation is that the deal is not conditional on AUN entitlement offer. The transaction is binding and conditional on AUN receiving commitments for at least $8 million. Which I think they have now that AUN yesterday approved the $5 million convertible and the $2.5 million issue to sophisticated investors, plus the $ 2 million part of the entitlement offer that is underwritten. Which leaves only MDI shareholder approval?
Below is from the Dec 16 RNS
The transaction is subject to Aurumin having received legally binding commitments or terms for at least
$8 million by 15 December 2021. Aurumin has entered into a Convertible Note for $5 million (with the issue
of the Convertible Note being subject to shareholder approval), has firm commitments for a placement of
$2.5 million to institutional and sophisticated investors and intends to undertake an entitlement offer to raise
up to $5 million of which $2 million has been underwritten. A
Hi Matty correct me if I am wrong but my interpretation is that...
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Mkt cap ! $6.157M | |||
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