My reading of the prospectus - the $5m entitlement offer had an additional discretionary placement capacity of up to a further $1m. This $1m bit seems to be where there is an overwhelming institutional demand, sounds like half a dozen players or more each wanting to take up the $1m.
This should mean that, after expenses of the offer, some $5.5m will be in ATU coffers, along with i) $2m METC exploration refund already received in July and ii) receivables of a further $4.5m in METC exploration refunds.
This adds to around $12m of funding going forward for ATU.
The Moran shareholding, which was the vast majority of the overhang, doesn't seem to have changed hands. There has been no change in substantial shareholding notice. Moran indicated back in June, in both court and from memory in an article in the Australian, that he was not a forced seller.
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