Yeah I think you're right. Given RAAS were predicting $2.5...

Yeah I think you're right. Given RAAS were predicting $2.5 million at ~3c in their last report I assume it'll be something very close to that, if not exactly. They did get the timing wrong though as they thought the capital raise would be in the first half of FY25. Best case scenario would be an influential partner taking a stake, but I think unnamed sophs/insts is more likely.

The timing of the raise could also mean they weren't successful with the 'material funding application for a federally funded digital twin program' in the US that they expected to be decided this quarter. Surely they would have waited for the outcome in the hope of raising after some good news.