Well, I wasn't expecting Chrisp to exercise his options. It was pretty clear since August announcement that there was some financial pressure.
There was downward pressure on the price so that he could not sell shares to fund options.
Any lender the company spoke to would have been aware of the situation as well. And word spreads across financial town.
I was hoping that the downward pressure would subside post 31 December 2023 since Chrisp would not need to sell shares to fund options any longer.
So, my take on it is that, Chrisp is all in, with no extra funds. Hence, it is unlikely that the company would initiate a raising as Chrisp would not be able to particpate and would be diluted.
The fact that options expired unexercised means that we didn't get diluted by 10%.
I reckon that there will either be debt or the company would announce a change in timelines for 1.5.
CXM Price at posting:
6.0¢ Sentiment: None Disclosure: Held
