Hi everyone,
A few posters getting caught up in the weeds here IMO.
The information a few of you are speculating about is contained in the replacement prospectus. It mentions who the additional shares are issued to & why.
There were large scale backs all round (even on the $1.1M placement portion) this is not always a positive indicator, but generally a healthy sign of things to come.
The main advantages of introducing the new shareholders are new blood & marketing of the stock.
In the case of ADO, commercialisation is on the horizon so the new issue could be timely.
Points I like about the current investment proposition - Directors have skin in the game $180K in this CR.
Multiple near term commercialisation opportunities in hot, lucrative markets.
If you want to know what can happen from Capital Raises like this one, have a look at 2 similar ones - LPD (2017) & BIT (2018).
LPD (2017) completed a rights issue, the price was 1c & by the time the rights issue was completed & shortfall issued to CPS the SP was around 1.8c. Shortly after the SP rose to over 8c.
BIT (2018) completed a rights issue @ 1.5c with a free attaching listed option with a 5c ex price. Shortfall shares were also issued to CPS, the stock did nothing for 2 months, but then quickly rose to 44.5c within 4 months of the CR.
ADO looks like a great opportunity to me, we all have a great chance of nice returns here IMO, so good luck all!!
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Mkt cap ! $56.77M |
Open | High | Low | Value | Volume |
2.2¢ | 2.3¢ | 2.2¢ | $84.45K | 3.828M |
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No. | Vol. | Price($) |
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3 | 323600 | 2.2¢ |
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Price($) | Vol. | No. |
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2.3¢ | 446098 | 3 |
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No. | Vol. | Price($) |
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3 | 323600 | 0.022 |
18 | 3406110 | 0.021 |
11 | 2279957 | 0.020 |
5 | 1426003 | 0.019 |
5 | 1336000 | 0.018 |
Price($) | Vol. | No. |
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0.023 | 446098 | 3 |
0.024 | 858196 | 7 |
0.025 | 887440 | 5 |
0.026 | 1326653 | 5 |
0.027 | 849458 | 5 |
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