Ann: Walkabout Completes First Tranche Equity Raise of A$6.4m, page-9

Hi Natos.

Spin it what ever way you like.

The capital raising was a complete failure, they tried to raise $20mil to meet its conditions precedent ($15.3mil) and provide working capital for the parent company (~$3.7mil) with up to $1mil in fees and only received $6.4mil. I don't know how the company can claim

"The Placement was strongly supported"

If this is any indication of the support from Insto's, IMO WKT is going to struggle to raise the funds to meet the conditions subsequent and the operating costs for the production facilities.

I would love to know why the T6 and Mike Elliot weren't willing to offer the same terms as the bridging loan, as you know, that would have raised up to $8.5mil, or ~40% of the $20mil required.

So much for the BS reports at raising at a premium.