A slightly odd CR for a variety of reasons, was not expecting...

A slightly odd CR for a variety of reasons, was not expecting such a large retail portion which is odd in the sense you would as management prefer institutional holders in such a fast growing company, those who will be there for the journey and tighten the registry upon diluting the share price.

More interestingly the fee attached for Canaccord - unsure what to make of this.

The moving undecided VWAP for the SPP, I'm unsure what corporate finance strategy this would even relate to - obviously trying to maximise raise price and minimise dilution but with what ann? Most companies find it more beneficial to release an annnouncement then 15 days later do a CR at the two week VWAP at a higher price. Which suggests that perhaps that cash from Q2 was depleted and they were forced to play their CR hand early?

Can't make many conclusions at this point in time, pure speculation on all fronts until more news is out, but there is a lot to this one to digest. Untraditionally structured.