Only raised $4m which is at the bottom of the range indicated initially via this blog. This indicates that they got a lukewarm reception from instos and sophisticated investors IMO. This shows the MD cant stand up one day saying we don't need to raise cash, then turn around the following week and go to the market cap in hand. IMO you may see an overhang of stock in coming days.
Poor sales job!!
Capital Raising, page-55
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