As a condition of the LDA agreement Brainchip had a minimum draw down amount of $9.1 million before end of October 2021. The recent draw down utilised unsold shares from last years draw down and according to Ken Scarince in today’s podcast raised a bit over $4 million which leaves about $5 million of the $9.1 million to draw down before end of October so as not to be in breach.
This will involve issuing about 10 million new shares at the present price to LDA to sell on market.
My opinion only DYOR
FF
AKIDA BALLISTA
BRN Podcast, page-879
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