Market Cap $257M at $0.16
Therefore number of shares before issue approx 1.6 billion
Equity Raising in two components -
1 Entitlement offer - Placement of 1 for 4 shares to raise $40.2m , therefore 402m additional shares
2 Institutional placement of $19.3 million , therefore 193m additional shares
Therefore , number of Shares after issue = 1.6 bn plus 402m plus 193m equals approx 2.2bn
Market Cap before issue equals $257m
Market Cap after issue aquals $257m plus $40.2m plus $19.3m equals $316.5m
Therefore price per share equals $316.5m /2.2bn = $0.144 per share .
The actual dilution is not that dramatic if you take up the offer since your current market cost is -
4 shares @$0.16 = $0.64 plus
1 share @0.10 = $0.10
Therefore 5 shares cost $0.74
equals $0.148 per share which is only about 3% more than the price per share after the equity raising .
I trust my logic is correct.
Please let me know if I have missed something ?
Of course , sentiment will influence the actual Market Price
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