Even so when Uber initially raised $250m (privately) they had $100m in the kitty. They could command a higher val. NOR has about a year of capital left (even if you account for R+D and gst rebates). Makes it harder to raise a higher val when the end of the runway is visible.
NOR will have to do a CR this year at the current burn rate (and I don't doubt the money will be raised given the oversubscription of the SPP) but it will be harder to raise at a higher val than previously. Not impossible just harder.
Also ZIP etc will have to do the same too (only sooner).
Ann: Corporate Update and Quarterly Reporting, page-83
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