No. Its increasingly common to offer options as well to eek out...

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.