No surprise on the raise. It’ll drift back to sub 5c as soon as the Appendix 3B is released & some investors dump immediately - 4.5c will be the floor IMO.
Based on the 4C, timing on the payments and $0.5m q-q increases; they’ll need to raise again. I thought it was originally pretty dumb to raise at 4.2c knowing they’ll have to raise again but it’s worked out well. Kudos to Ian & team.
Ann: Strong Demand for Placement to Fund Further Sales Growth, page-22
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