I don't think your speculation is unreasonable, re an interested party.
The keyword is 'strategic'. It is one word, and all those who are feeling particularly antsy need to do is let that one word sink in.
They are clearly not doing this CR primarily for the cash. Those who are incensed over Joel just recently reminding us of Incannex's enviable cash runway, should take deep breaths and use their heads: the company is telling us clearly as the English language allows, that this CR is strategic, and therefore not primarily out of a need for more cash: there is therefore no apparent contradiction between the news and Joel's recent statement.
In terms of 'absolute suck'... this is clearly not a case of that either unless one was planning to sell imminently at close to all time lows of 23c, and now is looking at maybe selling a couple of cents lower. Those who claim to be in long term (or even shortish term but not trading) shouldn't be fussed. If the institution is of strategic value to the company, then the dilution, if any (see @thevinnys theory re bonus options) stands to be more valuable than any dilution, in the judgement of management - and I think they have more than earned a bit of presumptive credit through their track record.
At the very least, their track record should buy them a couple of days to release the information to the market without heads imploding in the interim?
IHL Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
