Bit of icing on the cake sure but listed with an expiry of only 8 months away at 2.5x the current SP isn't that valuable. The strong demand speaks for itself, if they needed a true butter up to take part in the placement the oppies would be a new class with an expiry date of at least 2 years+ away. I see it more as a strategic funding decision to lock in significant funds just 8 months away without rattling the tin. If they all get exercised in November you'd realistically need a SP to be at least 10c+ above the exercise price so they must be bloody confident the tech is worth it.
+
1. For the vendors to take up 50 million options expiring in November and exercisable at 25c in purchase consideration
2. the advisers to take up 10 million in unquoted adviser options and 15 million unquoted consideration options - 3 years expiry exercise 25c
3. directors to receive 10 million in unquoted director options - 3 years expiry exercise 25c
Just adds conviction to the narrative that the SP will be well and truly above 25c by November.
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