my understanding is that they are seeking to raise $4 million at 85 cents with discretion to take a further $2 million is oversubscribed. Money is to tide them over until Sonic deal consummated. So very little dilution overall and a conservative but prudent management of their capital position. At this stage is looks like only sophs will get a look in. Euroz currently have a $1.55 price target in them but that is under review and doesn’t take account of the likely positive impact of the Sonic transaction.
my understanding is that they are seeking to raise $4 million at...
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