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.
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35.0¢ |
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-0.010(2.78%) |
Mkt cap ! $382.0M |
Open | High | Low | Value | Volume |
35.5¢ | 36.5¢ | 35.0¢ | $934.4K | 2.624M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 230715 | 35.0¢ |
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Price($) | Vol. | No. |
---|---|---|
36.0¢ | 17816 | 1 |
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11 | 831442 | 0.345 |
20 | 323131 | 0.340 |
7 | 368925 | 0.335 |
6 | 125505 | 0.330 |
Price($) | Vol. | No. |
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0.370 | 43985 | 1 |
0.375 | 24450 | 2 |
0.380 | 145591 | 2 |
0.385 | 16756 | 2 |
0.390 | 7694 | 2 |
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