Page 28 of the Investor Presentation says that the whole $1.04B capital raise is fully underwritten. So if it goes below $3.50 and shareholders do not take up their entitlements the underwriters are on the hook. There may be a material adverse change clause (maybe not though) however as it is accelerated they only need to make it through until 16 September. In short in most foreseeable circumstances the funds will be raised.
IFL Price at posting:
$3.58 Sentiment: None Disclosure: Held
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