Very interesting. We knew it was coming - based on the cash position and the burn rate it was bound to happen at some point. I think it's better to raise when you still have some money and not right until you are running on fumes to raise.
We are in a strong position so it makes sense to capitalise on the strong SP. Whilst it is a decent discount, think of where the SP was one year ago. 90% of something is better than 100% of nothing. Cash is king, and running out of money can kill the best of businesses. Based on current burn rate this raise should support operations for a good while. Well into phase 2 which will increase costs.
Only offered to instas - what do you all make of this? Whilst it's disappointing that retail investors miss on the opportunity to participate in the raise - to me it says the company knows its value and trusts that the pros know it too. This is no covid pop-up shop.
GLTAH
RCE Price at posting:
$1.64 Sentiment: Buy Disclosure: Held
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