at least there were no free options with the placement , why do...

at least there were no free options with the placement , why do a raise though when they confirm they will now be EBITDA positive by March I asked myself
Well they burnt nearly $8M last quarter and only had around $16M in the bank , so guess it is understandable why they needed funds , although maybe they could have done more a mix of finance and equity ?
However They do show a $279M pipeline which is significant and it would seem this raise is too small for the working capital needed for that pipeline , guess that is where finance will come in
I only have a small holding in this , so really have not been following it , however seems to now have decent potential going forward
The $30M raise will only increase the float around 11% and if the placement facilitates increasing company in revenue at a conservative 50% to $150M in FY20 with what looks to be a 50% gross margin so around $20M extra profit before tax after some extra corporate costs then it seems a good business case for a raise