This is at the front of my mind.
Even assuming Minbos could raise at 5c (highly unlikely) it will no longer be possible to raise sufficient money to keep the outfit going (i.e., wages and admin). They would need a special resolution to raise above the 25% of SOI. Or maybe seek distressed funding via a convertible note. Both of these outcomes would be extremely dilutive for shareholders.
I hope this doesn't come to pass. I'm still nursing hope (mainly on the back of the management team's own participation in the raise), but I do think the consequences of failing to meet this looming milestone are dire.
This is at the front of my mind.Even assuming Minbos could raise...
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