The raise will be predominantly for working capital i would have thought.
It doesn't really make sense to 'raise in anticipation of a new contract or partnership'. A new contract, in and of itself, does not require fresh capital. If anything I would argue that it would negate the need for fresh capital if there are revenue inflows.
They had 2 quarters worth of funding as per the last quarterly. I think it is prudent to get the raise out of the way early to avoid the issues we saw at the begininng of the year.
The raise will be predominantly for working capital i would have...
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