On the whole this is a very positive development. The company’s balance sheet has always been an issue / the business has been thinly capitalised until this raise which removes any near term funding questions.
CLB’s cap structure is still a little messy with the con notes, various option classes and now warrants but on balance it’s a good outcome and nice to see JB and CK putting their money where the mouths are, once again. Never seen anything like it in microcap land. A nice change from the usual snouts in the trough behaviour of most non founder directors.
Onwards and upwards.
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