It's easier to deal with brokers/soph compared to retail. It also costs more going out to retail. The offer comes out to retail if the Soph/brokers are not able to complete the raising. But as a company, it will be expected to close at Sophs itself to show that there is demand and communicate the same when releasing the CR details.
As a retailer, I expect the Sophs to pick up the whole tab as this means to me that there is demand. And if board makes material investment than very positive for all retailers.
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