I do not hold at them moment but watching STA closely to see...

I do not hold at them moment but watching STA closely to see where the dip goes..... Am I correct in thinking underwritten means guaranteed regardless of shareholders taking up offer at 12c? Presumably not 1 retail holder will take up this offer given @7.5c currently

The Rights Issue will raise up to $4.5 million and is underwritten by Morgans Corporate Limited and subunderwritten by specialist mining fund Tembo Capital, which currently has a 31.7 per cent stake in Strandline.
The proceeds, along with the share placement of $2 million completed on 4 March 2020, will be used primarily
to accelerate preparations for the development of the Coburn Minerals Sands Project in Western Australia.

GLTA