Hello. Personally, I did not read the Prospectus carefully enough. Correct me if I am wrong but my quick reading finds:
1. The $22,785,314 offer is partially underwritten for $16 million by RM Corporate Finance Pty Ltd (Underwriter). Dr Ruane has entered into a sub-underwriting agreement with the Underwriter up to $9,235,591, being the full amount of Dr Ruane and his associates’ Entitlement; therefore, Dr Ruane would not be obligated to subscribe for any Shortfall Securities beyond his full Entitlement.
2. Therefore, the offer is only absolutely underwritten for $16 million, i.e., in the worst case, only $6,764,409 by RM Corporate Finance Pty Ltd.
3. This means the potential for a $6,785,314 shortfall.
Is the above correct?
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