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.
Yes, there could certainly be a plan for a block of the proposed...
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Last
35.5¢ |
Change
0.060(20.3%) |
Mkt cap ! $515.6M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 37.5¢ | 33.5¢ | $6.427M | 18.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 35.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 133736 | 5 |
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| IMM (ASX) Chart |