I thought if there was to be a small raise, it may have come from groups like Forrest Capital, so I was surprised by the introduction of these funds.
Kick - I'll use your T20 numbers to make a point, rather than assess them for accuracy.
Assuming your numbers are correct.
If it was noteworthy to take on these two instos then perhaps they could have taken on just over 10% and both (or at least one of them) come on board as Sub Holders. That might give existing shareholders a greater confidence level - in the instos & VOR management.
Assuming your numbers are incorrect.Maybe they will still both come on board as Sub Holders.
We will know for sure in a few days. But if these instos sit just below the sub holder threshold, then I feel like VOR has missed an opportunity and shareholders will have to second guess in the interim.
On another note - why announce this today when we don't get the money until October 4 and they don't get their shares until October 8?
In theory this $2m won't show in the September quarterly numbers, but could be used as a notation if things aren't as rosy as we're led to believe.
It's almost like let's agree to a deal, and we will rap it up when we all get back from school holidays.
This isn't meant as a cross promotion - RNO did a $6m cap raise today and raised at 22 cents (and may close at 30c) and they released a 30 page classy presentation on what lays ahead for the next 15 months.
With VOR we got some contract number updates today and touches on cash flow and HY profits, but where was the sizzle? And one month on - what is the meaning behind Vortiv?
I feel like Jeff has already done a lot of the hard yards and heavy lifting, so I'm in the yet to be convinced camp on today's announcement. So I guess I'll have to wait and see what unfolds next.
Days like today can be frustrating, so congrats to all on the diversity and civility of the views contributed.
