I don't think their subsequent raises were that far out of whack with the market as you suggest though.
For instance, when they went to raise $10m last April, the sold shares at 9c which was only a discount of 10% of the previous closing price (so about 10c, not 12c or 15c).
Then in July last year when they raised $12.5, again the shares were placed for 12c which was a 13.4% discount to the 5-day trading range (or 13.6c).
Pretty standard formulas for cap raises I would suggest. BOT shares weren't 5.8c when they announced the cap raise of 6.3c.
I don't think their subsequent raises were that far out of whack...
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Last
28.5¢ |
Change
-0.005(1.72%) |
Mkt cap ! $456.7M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.0¢ | 28.5¢ | $39.15K | 136.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 960486 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 334472 | 16 |
View Market Depth
| Last trade - 10.33am 28/05/2024 (20 minute delay) ? |
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Last
28.5¢ |
Change
-0.005 ( 0.87 %) |
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| Open | High | Low | Volume | ||
| 28.5¢ | 29.0¢ | 28.5¢ | 123449 | ||
| Last updated 10.53am 28/05/2024 ? | |||||
| BOT (ASX) Chart |