It’s no surprise that the company stuck to their commitment of not exceeding the $2M cap for the SP...a decision that undoubtedly keeps their institutional investors content. The dilution from the $2M raise is negligible, especially in the broader scheme of things.
Interestingly, we saw a $500k purchase of shares today, which highlights just how little the institutions are concerned about the SPP allocation for retail investors! It’s an exciting time, and it raises the question..what expectations are driving this level of buying? Clearly, there’s confidence in the upside potential and heaps of momentum right now. I would be not surprised if another contract is announced in the short term with everything happening in the UK (Vision Zero, RAC etc.)
ACE Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
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