Ann: Trading Halt - Accelerated Offer, page-17

Do you think that, given only $10 million is allocated for the new placement, OPT is actually confident in raising the nearly the full $162 million with institutional investors through the capital raising and $55 million for retail backed within the $30 million limited underwriting agreement? With what is left over it seems they plan to conduct a "bookbuild" for any unallocated institutional shares, opening them to new institutional investors. Additionally, Regal is the sub-underwriter for the retail offer, so they will presumably sell off any remaining retail shares at a discount.
Does this align with your understanding?


the Placement, being a placement of up to approximately 25.0 million new fully paid ordinary
shares in the Company to institutional and sophisticated investors at an issue price of $0.40
per New Share under the Placement to raise up to approximately $10.0 million (with the
ability to increase the size of the Placement at the Company’s sole discretion).

The Entitlement Offer has two components, namely:
(a) the Institutional Entitlement Offer that is expected to raise up to approximately $162.3 million,
being an offer to Eligible Institutional Shareholders; and
(b) the Retail Entitlement Offer that is expected to raise approximately $55.0 million, being an offer
to Eligible Retail Shareholders.