They issued 116m shares Slick. These were allocated Monday this...

They issued 116m shares Slick. These were allocated Monday this week. As of Monday last week when the trading halt ended, roughly 50m shares have traded. Assuming some of the sales pre trading halt were premeditated and assuming there were existing shareholders who participated in the CR, then you can validly come to the conclusion that almost or perhaps more than half of the issued shares have already been sold.
The next pieces of the puzzle:
-how many more will sell down?
-will the indigestion extend beyond the116m issued?
-how many shareholders will take up the SPP?
-will SPP shares be in safe hands or will they also sell down?

If I compare this capital raise to others, I must say the indigestion phase has happened rather quickly in which case the buying support down here at 3.2/3.4 has been healthy.
The question remains, do you buy here or wait for possible further weakness from the SPP? I personally can’t see it getting much weaker. The buying support has been pretty healthy. They were waiting in anticipation.
I can’t tell you when to buy but I reckon you can’t go too wrong at 3.2 ish. Good luck. I’m long btw and happy to stay long for this story to unfold.