I reckon the instos who are stuck in DOC put pressure on the company to do a placement at these levels so that they can average down without moving the share price.
I am a client of both the advisors to the raise and neither offered me stock. So I would assume its gone to safe hands.
There is talk in the preso of value accretive acquisitions they are currently looking at. Better to pay cash than give away stock at these throwaway prices.
Ann: DOC Closes A$11.2m Placement and Launches A$1m SPP, page-11
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