I think they've tried to strongly reign back loan issuance. Maybe they did the same by temporarily raising the credit score requirement (successfully achieves that goal in the short term, except if some suppliers remove MME for good). Maybe they'll unpause it now that they got the $20m new funding.
Breaking their loan covenants might have meant that it's impossible to issue any new loans until they came up with more cash to reduce the leverage.
Which would explain the rushed(?), heavily discounted placement which is bad for retail holders and directors both.
MME Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
