I would say that this is good news seeing institutional investors get in. They will receive a discount only if the share price is below 30c after the 10th of August based on a 5 day weighted average.
if I were to take a guess, this will be very good in the short term for share price. I'd say current holders will be wanting to bump up the price above 30c as soon as August comes around so that it benefits FGR.
Aside from price action it will be a good cash injection to build on FGR's cash balance/flow. This is good seeing as FGR had about 6-9months of runway left for operating expenses.
Changed my sentiment to buy from hold.
FGR Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
