There will be a CR at some point, but it won't be anywhere near as dilutive as it could have been. Question is whether they make FiD and do the cap riase immediately, or wait until the need the money on the basis that if I/O stays high they might not need one.
I assume the banks would require a certain amount of equity from the company and therefore a cap raise will happen at the same time as the FiD and finance announcement.
There will be a CR at some point, but it won't be anywhere near...
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