The cat seems to be well and truly out of the bag on 15.2 million shares at $1.65 to raise $25 million. It will all go to institutional investors - there does not appear to be any chance of an SPP for retail holders.
Still wondering how this was considered 'material'. I'm not a fan of limiting any raising to specific investors but I guess we have no choice in the matter, as usual.
Ann: Trading Halt, page-35
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