That is true. Ron’s 165.4M plus 165.4M new shares as a blend plus another $11M of institutional entitlement offer is fully underwritten by Bell Potter.
What I am alluding to is the retail portion of entitlement offer amounting to $9M is currently not underwritten. Not all of these may be taken up as there are non Australian and NZ shareholders in the register. So there is a chance to apply for excess rights entitlement at 8c a share.
Ann: Fluence to Raise up to A$40.7M to Substantially Reduce Debt, page-12
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