Capraise issue for a premium price. How does that work?, page-8

Well, if we assume that WKT needs to raise the US$ 12M as their required equity part, which translates to about AUS$ 18M, someone would have to pay a premium of about 12.7% or 20.62c per share to fit it all into WKT's maximum 25% placing capacity as we speak, giving them 87,283,411 shares or 25% of the company.
Never mind what implication that would have in regards to holding 20% plus of a company, if someone would be as convinced about the project as some here are, they might be willing to pay such a premium to gain such a cornerstone holding in one go. AUS$ 18M for 25% of WKT, especially if the deal is sweetened with some free attaching options.

It might even convince some more note buyers to sign up as well, because the required equity is already for a 30/70 ratio is already secured. However is there such a "Knight in shining Armour "? Obviously Management is looking for one, but they mentioned a cornerstone note buyer rather then a cornerstone investor, because taking 25% of the company in a CR to a cornerstone investor would certainly also mean a 25% dilution for everyone else, which was not what SH wanted in the first place but are now facing anyway if the US$12M needs to be raised as equity.

The dog chasing its own tail comes to mind!