Ann: IonicRE Raises $5.5 Million in a Placement, page-19

Nearly as important, the free attaching oppy on a nearly 1:1 basis (4:3) at 2c with a massive 4 year expiry. If anyone believes IXR will be back above 2c, where it has spent most of the last 6 months, those options are easily worth 0.2-0.3c if they were listed... making the actual raise price around 1.1c!

It is mind boggling they didn't offer this as a SPP for shareholders, would have kept their placement capacity per rule 7.1 intact and kept SH on side. Brett Lynch piling in isn't a show of faith, he's getting ridiculously discounted shares with massive qty of options with low strike price and long life, as close to free gains as you can get in the ASX.