the catch is in the ann... they get a discount in the next two raises... its literally there in front of you... and its not a catch... its one of the best raises I have ever seen in 15 years on the ASX
The Purchase Price will initially be equal to $0.32, a premium of
approximately 88% to the closing price of the Company’s shares on 4 January 2021. Following 5 March
2021, the Purchase Price will reset to the average of the five daily volume-weighted average prices
selected by the Investor during the 20 consecutive trading days immediately prior to the date of the
Investor’s notice to issue shares, less a 10% discount (or a 13% discount if the Placement Shares are
issued after 4 January 2022) (rounded down to the next one tenth of a cent, or if the share price exceeds
$0.20, the next half a cent). The Purchase Price will not be the subject of a cap.
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Ann: Institutional Share Placement, page-16
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