The acquisition deal is US $25m upfront (AU $38.5m), and a...

The acquisition deal is US $25m upfront (AU $38.5m), and a further US $20m on completion of milestones in the future. The initial raise will cover the upfront payment, and assuming the strike price is met and all options converted, that would provide the company with an additional AU $34.5m which would cover the potential milestone payments. I believe that's why it's been done that way.

Unless we want 4DX to either stump up the cash themselves (assuming they're making that much revenue by the milestone dates) or come back to ask for an additional raise (and cop the administration fees), I'll be voting in favour of the options.