Sorry, I had to make an edit and missed the HC timeframe.I...

Sorry, I had to make an edit and missed the HC timeframe.

I strongly disagree. Buy on market now and you do not get the 0.9 cent 30 month options.

30 month term, that is very generous.

What will the market cap of LPD be when phase 1 is fully funded? This raise is for the "arrangement" of finance not "advance" or "further" finance.
The market cap is $23m at present and will probably still be $23m when trading with the additional SOI and $2m-$5m cash in bank, it would not be a wild guess to assume the market cap will be well north of $90m i.e. approx. 0.9 cps when funded.

For example:

Buy a share on market at present for 0.3 cents and the SP goes to 0.9 and you "triple your investment".

Exercise your 0.3 cent entitlement at present and then sell the free option at 0.9 cents and your return is "4.5 x the initial 0.3 cent investment". (1 free option for every 2 shares applied)

@Nickd003 The return is 50% higher if you exercise your entitlement rather than buy on market at 0.3 cents IF the SP gets to 0.9 cents within 30 months.

This may be why eligible directors and key management will be exercising their entitlements and applying for shortfall shares.