Yes a very disappointing capital raise. My calculator would suggest that 304 shareholders participating out out 2,550 eligible shareholders is a participation rate of 11.9%, but that's just splitting hairs as it is still poor. I suspect the lack of any concrete news on what plan's AQZ had to deploy the cash would have counted against a more successful capital raise. It does also suggest that retail investor support for AQZ is not strong.
My percentage ownership of the company is greater than I was bargaining on (given the lower number of SPP shares issued) but on the other hand AQZ may be short of a few million dollars that they had counted on in their budgets to grow the business.
Assuming creditors approve the Virgin Australia sale to Bain, I'm expecting some specifics for the role AQZ will play to follow shortly thereafter.
AQZ Price at posting:
$2.78 Sentiment: Hold Disclosure: Held
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