It reads like they know they need more capital but do not want to do a raising when prices are so low. Sounds like they're going to try to get debt funding for part, wait till the stock is re-rated then possibly do a raising.
As an existing shareholder I'm not against that approach.
Tough to get lined up though and with the cash position getting so close to the edge it seems like a pretty bullish call from mgt. They're backing themselves, which I like to see.
Ann: Offer Document for Entitlement Offer , page-4
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Last
17.0¢ |
Change
-0.015(8.11%) |
Mkt cap ! $487.1M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.0¢ | 17.0¢ | $2.831M | 15.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 2006569 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 928738 | 7 |
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| Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
| STX (ASX) Chart |