Those that take up the offer will be betting on a share price above 10 cents (after the raising) and above 18 cents (in twelve months time when the options are due).
If that happens, it will justify increasing the number of shares they hold by 18% (if they take up the options.
If the company has not achieved those goals in twelve months time, it probably won’t be around.
Check my maths on the 18% I think I got that wrong.
Ann: TNG to undertake $12.5M Entitlement Issue, page-86
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