Ann: Wellard to raise $52 million, page-2

Well, some of us here anticipated the capital raising due to working capital requirements and interest coverage.  

The stratified structure of the CR suggests a belief(to me) that Wellard may have anticipated not being able to raise the funds through shareholders.

The underwriters are particularly interesting.   Multiple underwritters, many of which are already shareholders in Wellard.  That is a sign of expected going concern.

The Entitlement Offer is fully but severally underwritten by Hongkong Fulida International Trading Company Limited (Fulida), Black Crane Capital Limited as investment manager and for and on behalf of the Black Crane Asia Opportunities Fund (Black Crane), Tradeinvest Asset Management Company (BVI) Ltd (Tradeinvest) and Heytesbury Pty Ltd (Heytesbury) (together, the Underwriters), and by Ms Giovanna Boventi Faroni (partner of CEO, Mauro Balzarini).