The full docs? They've announced the purpose of the CR already. All that's left is the appendix 3b I would have thought.
Happy to be proven wrong.
Regardless, we'll need to see what % of the 1c shares Patos ends up taking because as we've seen previously, the overhang from Patos last time was debilitating to the share price. Brokers are rarely around for the long game. Combined with their placement fee (say, 5% of funds raised, maybe $500k or so) they can flip their 1c shares for a pip or two and still be making-out like bandits. Even if they take 500M of the 1B shares and flipped them for 1 pip, they'd be making another $500k, in addition to their placement fee.
That's a super cool $1M for finding a bunch of s.708 investors willing to take-on shares at 56% below the last traded price.
We will need a truly big event to clear-out the 500M or more overhang but hey - PYC traded ~350M shares back in April after that announcement, so who knows...
PYC Price at posting:
1.5¢ Sentiment: None Disclosure: Held
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