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Page 27 of the Annual Report
At-The-Market (ATM) Facility In May 2022, the company established the NASDAQ based ATM financing facility with Oppenheimer and Company. During the months of July and August through 11 August 2022, the company raised total proceeds for the period of US$2.53million (approximately AU$3.67million). The weighted average share price from ATM financings is AU$0.50 cents per ordinary share, increasing the total shares outstanding to 149,636,656 and materially expanding the company’s runway with minimal dilution to existing shareholders. On the most active day during this period, the ATM accounted for 5% of the day’s trading volume, implying minimal price impact as a result of its use.