Ann: ZipTel To Acquire Emerging Consumer Neobank Douugh, page-24

i read it as the whole raise and backdoor IPO is max $5M raise.. equitise will play a role in the book build.. so will get however much they can raise through their platform based on historical, this is what might happen:

equitise will put in $300k or so possibly..

cannacord will find the otehr $4m of their own clients money, put it in in small lots (like $10k each) - and keep another $500K to put on market straight after its live (so they can say it was oversubscribed without lying), then hopefully use that immediate momentum to entice a bunch of dumb retail money to pile in as a get rich quick scheme, at whcih point the broker will flip their entire $5M of stock out, keeping their fee (which might be $1m including options, equity, etc), and leave no skin in the game except a free ride, and a stock thats going to need to raise more than $100M+ in the near term, from a $20M market cap...

they'll then do it again on the next one, and they'll never mention ziptel or dough to anyone ever again.

this forum will then become a battle of "down rampers" (who just want they losses back) and "true believers" (who think this company really could make it if only everyone believed and downloaded the app and gave them $100m.. then it would be the next unicorn!)

meanwhile, gloabbly neo-banks are failing at a rate of knots, even one's backed by big banks. locally very few banks outside of the big4 make any actual money..

and the war for banking will be won by those with BILLIONS of capital.. not a $5M cheque, coming 4 years too late to the party.

but all IMHO.