I was thinking the same. While you have over $100M in your bank...

I was thinking the same.

While you have over $100M in your bank before the Her-vaxx announcement in Aug, it will definitely increase your bargain power. No low ball offer no time waster by that time.

I'm positive on this 'unexpected' CR as it is clearly the whole purpose of this CR is to bring in 3 new significant institutional investors (95% of the total CR)

In the last 6 months we have taken our beautiful Her-vaxx baby to various conferences in US and Europe. Surely many investors would like to take a significant number of shares.

We are currently not in the Asx200/300 yet which gives difficulty for some global funds/investors to invest in IMU directly.

CR is an alternative way for those significant investors but impatient.

Last for the timing of the CR, beside the reason of above impatient investors, my speculation is what if (only if) IMU is expecting a big chq from selling Her-vaxx in Aug/Sept and keen to return majority of the money back to current shareholders by way of capital return/dividend? If so then have a CR at current price is wisely as the price will be lower after the capital return/dividend paid.

Like Stein said - Raise money when you can not when you needed.

DYOR