If management team wants more cash, it can do an issue for every shareholder, not just institutional investors and themselves. They can issue an option too for next year so that Li price is much more favorable. They have financial advisors and they know there are many different ways of raising money on the upward market, however they choose the most damaging one for mums and dads
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Ann: LPI - Completion of A$8.0 Million Placement, page-42
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