They were forecasting deal(s) before end EoFY I wonder if building this $10M bank was a requirement to finalise hence the lag. December 15th 2011 the called a snap placement for $2.5M (despite having raised $6M earlier in the year) settled 5 days later & Jannsen deal came through 10 days following that on the first business day of 2012.
Considering it is fully underwritten so the $10M is a certainty it might not even need to close out regardless though i'd expect some updates while it's open to keep stock from slipping through to underwriter.
PYC Price at posting:
1.5¢ Sentiment: None Disclosure: Held
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