Ann: Trading Halt, page-13

Thanks for this - I’m obviously missing something but I don’t understand the need for such a discounted raise with free options, when they announced in December an equity funding deal with Alpha for up to $3m with an issue price set by SIS at no worse than a 7% discount to a SIS nominated VWAP. Eyeballing recent trade I’d say the 1 month VWAP is around 1.2 ( which is also current price) translating to an issue price to Alpha of a minimum of 1.116 and with no free options!!

as we’ve seen in the past with the current placement structure, the investors seem happy to sell their new shares and just hold the options as basically a free punt on the share price in a couple of years time.

what am I missing??