This is a similar arrangement to what LCK has in place.
Its not a large raise in the sense the company is only committed to the initial tranche
The risk with this structure is that the investor can keep the share price down in the high teens and get issued shares at or near the Floor Price of 15c
The biggest reveal is the new goalpost of transacting at the CEIP level in 2022. No doubt covid and the depressed IO price played a role in not hitting this in 2021
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