Only raising $8M @ $8-$10 per ADS. Just need to work out how many shares an ADS controls. If its 20 then that gives us a price of ~26c, with less than 10% dilution.
Not a bad outcome IMO, minimal damage to get the listing.
Just need to confirm how many shares are controlled though, more than 20 doesn't look good, less than 20 would be great. I.e. 1ADS = 15 ASX shares = 35c listing price etc. etc.
NASDAQ Listing, page-32
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