no. They ran an SPP and promised to issue shares at 20% off VWAP rounded to the nearest tenth of a cent. This is pre consolidation; shares were trading around 2c. VWAP was about 1.64c so they should have issued at 1.6c, but they didn’t - they issued at 1.7c. So 6.25% difference on the capital raised. Worked out to a theft from retail shareholders of about $200k total.
no. They ran an SPP and promised to issue shares at 20% off VWAP...
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