Top 5 shareholders hold about 75%, so presumably their views have been canvassed already and they are taking up their rights (~$3m). May explain why it’s not underwritten. The placement component is only $2.2m - chump change. I’ll be surprised if the placement book isn’t covered. Not a lot of downside at $0.17. Question is how much upside is there vs other opps
Ann: Trading Halt, page-5
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