Agree, it is disappointing to see how BRN decided to execute this - honestly it boils down to experience and somehow I don't think the CEO orchestered this, this was already planned prior to his appointment.
I have seen many private placements been done in my time and a lot better executed than this - yes it is time to grow the business but I was hoping for min $20m (+/-) private placement paid in tranches when certain achievement have been made and it would also have been nice to know who all the VIP investors were. Somehow, I can't help thinking if this was done as part of a 'deal' with an existing NPD client.
Anyway, that said - I dont have any concerns... AI tech is here to stay and BRN is well positioned. I do ask, however, that the CEO takes the helm and get things moving on - reality is the competition is lining up and SH are expecting some big results in the comings months/years.
From here, it is onwards and upwards...
Good luck to all SH...
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Ann: Private Placement Completed Oversubscribed-BRN.AX, page-107
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