So the founder of RAP Brian Leedman is the guy that got RAP taken out by Pfizer for 180m - he now joins RSH! RAP was the most similar stock to RSH. I think lots of people will follow him!
The con note isn’t at 2.4c… it’s 30% premium to the VWAP in the 5 days prior to the execution of the final documentation - so if it was going to be 2.4c then the 5 day VWAP would have to be 1.85c which it wasn’t - it was actually 4.3c leading into the halt.
The 117m shares are just granted as security at the lowest possible floor price - usually an ASX rule.
If the share price in the future or when and if the note holder converts - doesn’t get there - then the company gets its shares as security back - minus what the real conversion price is. If the price runs it can be converted at a much higher price!!
That’s the best outcome for everyone.
Less dilution than a cap raise at these levels.
So the founder of RAP Brian Leedman is the guy that got RAP...
Add RSH (ASX) to my watchlist
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Last
3.4¢ |
Change
0.004(13.3%) |
Mkt cap ! $36.03M | |||
| Open | High | Low | Value | Volume |
| 3.0¢ | 3.4¢ | 3.0¢ | $36.75K | 1.184M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 224180 | 3.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 79999 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
3.4¢ |
Change
0.004 ( 13.3 %) |
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| Open | High | Low | Volume | ||
| 3.2¢ | 3.4¢ | 3.2¢ | 71127 | ||
| Last updated 14.52pm 03/05/2024 ? | |||||
| RSH (ASX) Chart |