more likely case is they tried to tie up someone but failed because they definitely knew SSW was likely to pull out. the goldman sachs fee earning machine still spinning for 4 more months.
a new strategic partner would be anchored to the 10c cap raise price and my guess is INR doesn't have many options - odds are that the new strategic partner will take current Li prices as baseline and the offers will be well below the SSW deal (part of the reason they pulled out really - didn't make any financial sense and the market knew this because the INR mkt cap was well below SSW deal implied value).
personally don't see any point in participating in the cap raise knowing what's coming.
INR Price at posting:
9.9¢ Sentiment: None Disclosure: Held
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