Ionic are halfway through an expansion to significantly increase the Geo-textile production - after taking out a loan in Dec for approx $500k. Once in full production then the increased cashflow should service the loan repayment.
The pre-IPO investment by Munich Partners for up to $5m should have been received and shares in process of being issued.
I understand that some of the funds are to be used for IPO costs
It will be interesting how much was raised and for what price per share.
My own guess is second half of May for listing on ASX at the earliest. Now the Ionic Options from 2017 expire on June 30 - ideally Ionic listed at least one month before expire - but if listing is delayed then I expect the options will simply be extended again
cheers
SER Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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