All fine. But none of that changes the incentives of the...

All fine. But none of that changes the incentives of the prospective shortfall placement recipient. They won't have announced the shortfall facility without setting up that arrangement, so some party is in play for that. As you suggest, the instos are keen to get in.

I agree that there are good intentions here, but unintended consequences and all that. Plenty of well intentioned funding arrangements have left companies with problematic issues. The frequent use of Convertible Debt facilities a while back, with conversion price based on the market price, led to many companies getting short sold by their own debt provider, to gain a low priced conversion. A few notable New York operations were busy on the ASX with those deals.

I'm presuming the shortfall placement facility is the cause of the price weakness here. It's no major in this case. The price may remain suppressed until after the SPP closes on Nov 17th.

I see it as a good sign. Up to retailers to pick up as much as they can, on market, cheaper than the SPP, and to otherwise take up their SPP offer.

All my opinion. DYOR etc.