Ann: Completion of Upsized Underwritten $100m Placement, page-127

I'm suggesting some retail shareholders will dump some. Seriously. Have you never been part of an SPP before?

No, my opinion is not the same for Instos. Instos are more likely to hold. Its why directors give them 100m at a huge discount and us 15m. Even if it screws existing shareholders, the new shareholders are higher quality, and who cares about your existing shareholders?

i suggested that the floor would be 76-84. When that is, I dont know. Whether it recovers a bit before the shares are allotted, I dont know. But generally, SPPs drop to roughly the CR price during the process. It's exactly what we are seeing play out since the announcement.

After the CR, it'll will often (but not always) recover to a long term price. What that looks like depends on the stock. It will put a significant dampener on the run away train we were all part of before the CR announcement.