They did, what you're suggesting is not an underwriting, speculhater.
Underwriter stands behind K2F as back-up to make sure at least 7.65m shares get issued for $1.53m cash.
Based on this announcement, 8.60m shares will get issued for $1.72m cash.
The underwritten position has no doubt given others confidence to exercise options which werent even in the money.
Everyone will have different view, but I think share price has been impacted in part by fear of raising. Now, almost $3m in bank, target breakeven, Vale and S32 announcements due any day. Should be upwards from here IMO.
Ann: Exercise of Listed Options Raises $1.719 Million, page-8
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Mkt cap ! $18.69M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $11.51K | 114.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 64869 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 10.5¢ | 220128 | 2 |
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| Last trade - 11.04am 28/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 10.0¢ | 10.0¢ | 10.0¢ | 34869 | ||
| Last updated 11.04am 28/05/2024 ? | |||||
| K2F (ASX) Chart |