Hi, Doz:
I hope you and @Fact Finder, @Yak52,@dolci and others could help me out here regarding to this Capital call ann.
First of all it says This capital call will utilise existing shares held by LDA. Does it mean it is asking LDA is to start selling 8,750,000 shares to the open market on 16/08/2021?
if that is the case
I listed the daily sell done by LDA below. According to the broker data, we know 8,993,000 sold between 08/09/2021 and 01/10/2021 is for the SPA between LDA and Peter.
So take this portion out of the total sum, it is clear that LDA sold 10,255,000 share so far until 05/10/2021, the total sell value was $4,885,898.46.
Now the ann also said the company is committed to drawing down a minimum of A$9.2 million no later than 22 October 2021. The issue price for the capital call shares will be 90% of the higher of the average daily VWAP of Shares in the ten-trading day period after exercise of the put option (subject to any applicable adjustments) and the minimum price notified to LDA Capital by the Company
does anyone know that the "minimum price" notified to LDA is?
and if my calculation is correct above, we know LDA has already got $4.9million from the open market by selling 10,255,000 share since 16/08/2021 (excluding the 8,993,000 sold for peter under SPA), then what do you think will be remaining amount of fund LDA need to prepare for the $9.2m draw down?
I am a little bit confused about how this capital call works, hope anyone with better knowledge on this can help me out. thanks in advance.
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Ann: Capital Call with LDA, page-219
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