Yes, people can get upset about the 27c placement price.
But late today, Euroz would have locked in over $3m in cash for WOA in a swift, efficient transaction that will see WOA emerge from their trading halt on Friday.
Going down the SPP path was too risky.
Imagine if the Dow Jones craps itself tonight?
No shareholder would have taken up the SPP at 27c and then WOA would then be trading at 20cps with not enough cash in the bank.
On certain occasions, SPP's are great.
On others, not so great.
A placement to a solid broking house with analysts and corporate and research notes and connections etc etc is a perfect outcome.
WOA Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
