Ann: Half Year Report and Accounts (including Appendix 4D), page-116

As described in Note 1(i) of our accompanying financial statements, as announced on February 26, 2021, we have commenced a proposed equity-based private placement to a targeted industry investor to fund operations. The placement will close in the first week of March, 2021 at which time cash proceeds will be received. Closing of the contract is subject to customary conditions.

Proceeds from the offering will be used for working capital and to prepare for confirmatory trials in lead programs as per FDA requirements.

I agree @finneces that this is probably an important piece of information that has been added to the HY Report .... billion dollar companies with highly paid CFO's aren't "tardy" with reporting so they may have held off the HY to in fact include this piece of information and have a conference call, however things weren't finalised in time so a TH was instigated or the whole schedule of events was planned exactly as it unfolded ? Who knows - MSB does ?

I knew something was up when on Thursday night we did not receive the standard notification from MSB of the upcoming HY Report and conference call; hence why I posted this on Friday morning prior to the TH being announced :

https://hotcopper.com.au/threads/le...5929600/page-81?post_id=51349099#.YDmsAGgzbIU


All I would add is this "stand alone" placement to one industry participant / investor would not have been decided by them in a couple of days, so rest assured some serious DD would have occurred over the last month or so and they must feel confident with the information they assessed - just sayin'

I am tipping that these funds are for one Confirmatory Trial only - GVHD and of course to strengthening the balance sheet; one thing for sure until Tuesday we are all just speculating (me included)



In the interim @LearningEachDay has posted some relevant interesting links/info IMO so maybe have a read if you have time while we wait ? Have a great weekend MSB'ers

https://hotcopper.com.au/threads/an...5934626/page-70?post_id=51379077#.YDnDwmgzbIU

https://hotcopper.com.au/threads/ce...65963/page-8439?post_id=51384145#.YDmle2gzbIU