$20-$30 million is a fairly big range, sounds like a plcement to instos and sophs to me.
Just a question of price and how much skin they want in the game.
Given that KS would likely (but not necessarily) be diluted by a placement I'm sure he wants a premium to the current share price, otherwise he would just say "tap the holders & I'll underwrite it".
Does Alwyn & team have the nuts to ask for $2.20 from the instos for a stake?
IOH Price at posting:
$1.86 Sentiment: Hold Disclosure: Held
