Sorry there M, are you suggesting that demand for a broker raise...

Sorry there M, are you suggesting that demand for a broker raise would come from the demand on the buy side from retail? ie) that we see from our trading accounts daily?

If so, keep in mind:

1. That's what brokers are paid fees for, to find demand.

2. Buyers on the open market are unlikely to have an association with a specific brokerage firm. If HC is anything to go by, a portion of demand is coming from existing holders topping up and people that would managed their own investment accounts/portfolio's, not investors using a broker.

3. By engaging a brokerage firm, you are gaining access to an entirely new spread of investors that would not necessarily have heard of, let alone even considered TNG. This is why a company pays an equity raising fee to a broker, for access to new, fresh, investors to rejuvenate a register.

4. Placements to HNW individuals and institutions does not mean they are sellers as I've just pointed out to Noodly. It is quite the opposite and as a previous poster pointed out, TNGs status quo seems to be if we raise capital it means we issue to sellers.