An unconvincing day for VRC and as I said before there is no floor in the price until the SPP VWAP is calculated. At 1.6 cents shareholders are facing a SPP at 1.28 cents.
I think the stock will be in the low 1 cent range by the time the VWAP is calculated so potentially a SPP at 1 cent.
The only people that benefit from a placement completed like this is Pattersons who don't currently have a position in the company. They potentially get stock at 1c to 1.2c and can happily trade it out for 20%. But who buys all their stock?
VRC Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
