@Surandy70You need to check out the retail offer doc - I believe...

It is the stock overhang that will be holding the share price down.

With the share price having been below the CR price for the entire offer period will mean that the underwriter is going to have around $6m of stock waiting to be dumped. Plus the uncertainty of whether LDX will place the other $1m of non-underwritten stock within the next three months.

@Surandy70

You need to check out the retail offer doc - I believe Twiggy and Ryder are taking them all, apart from $900k worth. I think they will be much tighter hands than retail too (I'm galled that I didn't get my 3.8c bids filled just before - lol):

Gross proceeds: Approximately $10.0 million (before costs), comprising
approximately $3,103,798 under the Institutional
Entitlement Offer and approximately $6,945,467 under
the Retail Entitlement Offer

5.7 Underwriting of the Entitlement Offer
The Company and the Lead Manager have entered into an Underwriting Agreement pursuant
to which the Lead Manager has agreed to lead manage the Entitlement Offer and to underwrite
the Retail Entitlement Offer up to a maximum aggregate amount of $6,050,000 (Underwritten
Amount).
A summary of the key terms of the Underwriting Agreement is provided on slides 45 to 48 of the
Investor Presentation contained in section 4.
The Underwriting Agreement contains certain customary:
(a) conditions precedent that must be satisfied or waived before the Lead Manager is
obliged under the Underwriting Agreement to, among other things, underwrite the Retail
Entitlement Offer up to the Underwritten Amount;
(b) representations and warranties relating to the Offer and the Company’s operations, in
favour of the Lead Manager; and
(c) undertakings in favour of the Lead Manager including in relation to the conduct of the
Offer and business of the Company.
The Underwriting Agreement is subject to generally customary termination events, with the key
termination events summarised on slides 45 to 47 of the Investor Presentation.
The Retail Entitlement Offer is partially sub-underwritten by Tenmile and Ryder Capital up to a
maximum of $6,050,000.
The Lead Manager and Sub-Underwriters will receive:
(a) in respect of the Entitlement Offer, the Lead Manager will receive a selling/management
fee of 6% (plus GST) of the gross proceeds of the Entitlement Offer; and
(b) a total of 62,196,034 unquoted options to Sub-Underwriters to the Retail Entitlement
Offer, Tenmile and Ryder Capital (in proportions of approximately 50% each), having
an exercise price of $0.07 per option and expiring 30 September 2026.
The Lead Manager will also be reimbursed by the Company for certain expenses incurred in
relation to the Entitlement Offer. The Company has also agreed to indemnify the Lead Manager
and certain affiliated parties from any losses suffered by those parties in connection with the
Entitlement Offer.