I was always a little sceptical that we would get an MPS deal...

I was always a little sceptical that we would get an MPS deal done before a capital raise was necessary. I am just a little surprised that the CR announcement didnt coincide with the 008 results in late September.Perhaps the company had a target share price or a trigger point for a capital raise? I think Dungiven might be on the money with his view that the SP movement surprised the company and they decided to strike whilst the iron was hot rather than wait 6 weeks. Who knows what could happen in 6 weeks time had they waited until late September. Hopefully they have been courting some key institutional investors that will strengthen our register. I dont believe that 008 results will disappoint. I am confident that Retail will get an opportunity to participate in the raise. Probably a capped SPP but it would great if it was a Pro-rata Rights Issue as I will be applying for all my entitlement. I just hope that company has done its math and has a good handle on its trial costs and this is the last time we have to tap the market again to complete the OA Ph3 trials.

I hope we have an investor call on Monday morning so the company can explain the circumstances of the raise.

Hopefully Marco and Paul read my post last month.https://hotcopper.com.au/threads/capital-funding-%E2%80%93-paul-rennie-and-marco-polizzi-please-read.6847347/?post_id=62589891

A short summary of our previous Capital Raises:
1. October 2018 - $9M Institutional Placement (No Retail) 68c per share. 19% discount to 30 day VWAP and 6.8% discount to last trade
2. April 2019 - $78M. (Comprised of $51M Institutional Placement @ $1.50 per share plus $26.3M One for 8 Accelerated Entitlement offer available for all shareholders @ $1.50 per share). 21% discount to last trade. Approx 55% take up rate of acceptances for the Retail entitlement
3. April 2020 -$35M Institutional placement. $1.30 per share. 23% discount to last trade of $1.69 and 39% discount to VWAP of $2.13