"That is as fanciful as suggesting that they would do a cap raise at 90% discount."
Feb 2023 raise at 30c.
This raising at 8c, a 73% discount.
Now add the dilution from placement along with conversion of debt at 8c - I haven't done the calculations and quibble @mowibble all you want but that's MASSIVE dilution.
Ann: Funding Commitment Agreement Update, page-17
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