As I interpret it, there's a clause that states if Walker redeems the notes within, then the intention is to offer shareholders an opportunity to top up (CR) at the same price. So effectively another cap raise is 90% guaranteed within the next year @ 72 cents per share. I can't see how the shares can materially appreciate beyond that price as the market will likely discount the price after the threat of a CR has dissipated.
Ann: Next Science secures A$10M convertible notes due 2024, page-5
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Last
26.5¢ |
Change
0.005(1.92%) |
Mkt cap ! $77.29M | |||
| Open | High | Low | Value | Volume |
| 26.0¢ | 27.0¢ | 25.5¢ | $9.948K | 37.95K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3257 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 78245 | 2 |
View Market Depth
| Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
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Last
26.5¢ |
Change
0.005 ( 1.92 %) |
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| Open | High | Low | Volume | ||
| 25.5¢ | 26.5¢ | 25.5¢ | 18523 | ||
| Last updated 15.44pm 03/06/2024 ? | |||||
| NXS (ASX) Chart |