I believed I answered that in the post you replied to.
I was interested in backing another biotech and still have the same view. I felt the SPP was a compelling trade for the reasons I outlined … and it worked out. I wanted to get my IMU SPP money out ASAP and free carry the options. It was a pure play on the SPP, and for me it worked out well.
I was so disinterested in IMU at the time that I wasn’t even following the stock or threads. It was actually @Davisite who pointed out to me the huge drop in IMU due to the cap raise, likely due to short sellers. I then investigated further. I got interested when IMU hit 6c while the institutional placement was priced at 8.3c. I was mainly interested in the very generous free IMU 1:1 SPP options and didn’t care about the fundamentals… it was a pure short term trade / arbitrage on the SPP v placement price.
By the way, I wrote a brief comparison between the last 3 biotech cap raises I have participated in … IMU (late 2023), CU6 (early 2024) and RAC (closing 4 June 2024). History doesn’t repeat but I am hoping it will be 3 out of three for me. Not long to find out.![]()
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Last
6.2¢ |
Change
-0.006(8.82%) |
Mkt cap ! $455.6M |
Open | High | Low | Value | Volume |
6.9¢ | 7.1¢ | 6.2¢ | $3.774M | 58.30M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
23 | 3402693 | 6.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.3¢ | 610000 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 3352693 | 0.062 |
13 | 1893985 | 0.061 |
31 | 5573151 | 0.060 |
6 | 509989 | 0.059 |
15 | 1148629 | 0.058 |
Price($) | Vol. | No. |
---|---|---|
0.063 | 610000 | 3 |
0.064 | 898927 | 6 |
0.065 | 855611 | 6 |
0.066 | 832890 | 7 |
0.067 | 1161916 | 7 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
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