The better question: how are CDU going to explain a prospectus...

The better question: how are CDU going to explain a prospectus with ' underwritten' contained therein when it appears to be clearly....well....not?

Underwriting is an agreement to take on risk in exchange for an agreed benefit, on agreed terms. The fact the $50m, less charges, has not been recieved should be highly concerning.

Something has clearly failed.