Everything about this cap raise seems wrong.
* lowball price
* 1 for every 40 only really suits those with a reasonable stake
* who's taking the $15 placement and why do they deserve such a big discount
* shorts covering
* options -- fairly unless for small holders
* the offer doc is written as if no one will take up their entitlement and they will need find a home for any leftovers.
* share price is experiencing a $1 zen moment – why not drop it further? Is it just low enough that most people will pass on the offer?
* why price the options 1c above the previous cap raise of $1.73? I'm sure whoever paid $1.73 in 2022 are loving that.
It seems so wrong, I figure it must be good, which is why I took up my entitlement yesterday.
Ann: Entitlement Offer open, page-27
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