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Joey6

236 Posts.

100

07/02/23

20:20

Post #: 66125326
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Originally posted by AmWatchingYou: ↑

On my calcs, each option is worth around 6c assuming a 60 vol and 3.5% RFR.

So while the headline placement price is 30cps, recipients are getting in closer to 27cps given 1 option for every 2 shares allocated…that’s closer to a 27% discount IMO. Ouch.

Amount being raised seems higher than the picture painted by management, probably because US capital has been smelling stress as CDX has cash backing for barely a quarter and limited alternatives if markets wobble.

But getting this away is a net positive I think for getting the US listing/raising done (whatever form that might take).

Will be interesting to see structure, dilution and liquidity impact arising from upcoming US announcement. Might be a short term bump to share price after today but buyers strike will continue until this US shoe drops IMHO.

As to governance, lack of an SPP is a snub to long standing shareholders.

GLTAH DYOR

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What I will disagree with is SPP for retail -- it is expensive and a pain in the butt for management. I have no issues with this.

CDX Price at posting: 34.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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(20min delay)
Last 5.9¢		Change 0.000(0.00%)		Mkt cap ! $17.35M

Open	High	Low	Value	Volume
5.9¢	5.9¢	5.9¢	$590	10K

Buyers (Bids)

No.	Vol.	Price($)
1	2500	5.9¢

Sellers (Offers)

Price($)	Vol.	No.
6.0¢	10393	2

View Market Depth

No.	Vol.	Price($)
1	2500	0.059
1	12696	0.056
2	55000	0.055
1	127500	0.054
1	100000	0.053

Price($)	Vol.	No.
0.060	10393	2
0.061	33080	1
0.062	83300	1
0.063	130000	1
0.064	130000	1

Last trade - 11.43am 30/09/2024 (20 minute delay)

CDX (ASX) Chart