No. Its increasingly common to offer options as well to eek out a few more $ in these raises.
Its a bit ambigious but it looks both insto/sophs and retail will get the options attached:
"Participants in the Placement and Entitlement Offer will also be offered one (1) option, each exercisable at A$1.00 per option and expiring on 30 June 2026 (New Options), for every three (3) New Shares subscribed under the Placement and Entitlement Offer."
The $10 million just gets done far quicker whilst the retail takes forever and alas OPT probably converges on $0.40 whilst it gets done (retail takes forever) if it behaves like most of these at the small end of town, rather than the mathematical dilution effect.
I am relieved its at $0.40 and not lower. These lot need to make this the last and get some commercial partners with upfront and milestone payments onboard.
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---|---|---|
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1 | 18064 | 0.430 |
6 | 126967 | 0.425 |
3 | 26073 | 0.420 |
5 | 141609 | 0.415 |
5 | 48539 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.435 | 29017 | 1 |
0.440 | 67248 | 4 |
0.445 | 32248 | 2 |
0.450 | 60000 | 1 |
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