My understanding is that they are required to hold a certain amount of liquid assets, for Opthea i would imagine most of their assets currently would be cash. If they deplete that cash down to a level that doesn't allow them to meet their liquidity obligations under the law, they would be in trouble.
So although they have the cash to execute what is required in the first statement, that may have the company unable to meet their liquidity obligations under law hence the CAP raise to ensure they have a minimum level of liquid assets as required by law.
Cheers
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- Opthea Q&A Sep 2024 Update
Opthea Q&A Sep 2024 Update, page-35
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