Yes, there could certainly be a plan for a block of the proposed new shares (via ADRs) to a US based pharma partner or other US-based strategic investor. The preliminary F-3 filing leaves this wide open to interpretation on how the US$100m shelf takedown might occur:
I am surprised IMM has not said anything to the ASX/us about this yet - it has only come to light via the SEC filing over a week ago linked off the company website and discussed in other online forums. They should’ve have a local FAQ ready to go - it’s not like US$100m worth of new share warrants (ADRs) is insignificant.
Overnight Market report, page-1691
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32.0¢ |
Change
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Mkt cap ! $464.8M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 32.3¢ | 30.0¢ | $1.040M | 3.328M |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 42705 | 2 |
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