Ann: CardieX Files Form F-1 to Dual List on US Nasdaq Exchange, page-48

Which then prompts the question ... what is the IPO price range Roth Capital & CardieX has determined .

AUD $.17 - $.30 ?

Is the IPO price completely determined by the ASX market and a battered & bruised Market Cap - due mainly to "day to day survival working capital " the company has undertaken to get through to the NASDAQ listing.

Or can they mount an argument, and generate the interest/demand, to value the business as if the IPO was a debut public offering in the USA ( ie. being taken public for the first time as per ARM above )..
In this circumstance, is the target closer to AUD $.30 , USD $.20 , which post IPO if raising USD $11.5M would see 58m share issued, closer to 225M SOI with convertible notes, options etc.

This would value the business at AUD $67.5M on listing.

The converting notes will convert at the IPO, with $5m+ criteria met.

• Conversion Pricing:
o The higher of the Floor Price (being the lower of $0.30 and the price of any capitalraising prior to conversion);
anda 20% discount to the 20-day VWAP at conversion

TBH I'm no merchant banker, really have no clue and I watch with keen interest !
I'm here to see Sphygmocor technology establish itself in the US market ... this whole process will well & truly be water under the bridge by then!