"Next Science, owner of medical solutions to prevent surgical...

"Next Science, owner of medical solutions to prevent surgical and wound infections, launched a $28.9 million raising on Tuesday morning split across five legs.Next Science uses material science to address bacterial biofilms, which can cause antimicrobial resistance during surgery or wounds. Fund managers were being offered shares in an $11.5 million single-tranche placement at 42¢ apiece or a 35.4 per cent discount to the last close. Canaccord Genuity and Wilsons Corporate Finance were acting as joint lead managers and called for bids by 5pm Tuesday.In tandem with the $11.5 million placement, existing lender Walker Group has provided an iron-clad commitment to redeem their existing $10 million convertible note for $10.4 million worth of Next Science shares, according to a term sheet sent to investors. This is subject to shareholder approval, expected in October.Next up would be a roughly $2 million placement to US-based trade investors who were likely to be doctors. It is expected to be mopped up by September 18.The company’s directors would tip in about $400,000 in a second tranche subject to shareholder approval expected in late October. And lastly, there’s a $5 million share purchase plan for retail investors at the same price as Tuesday’s placement."

Ouch, glad I sold out at 58c after their qtly. Question is will it go down below 42c, more than likely is my guess which then could be a good re-entry point as it does have good growth prospects