When the equity raising was executed, there was 2.1b shares on...

When the equity raising was executed, there was 2.1b shares on issue and the share price was 16.7c (roughly), and was post-covid-market-crash.
They raised 143m shares at 9c.
Purely based on “back of the envelope” calcs, the weighted average dilution due to the 143m would have brought the share value down to 16.2c.
Essentially they didnt raise as much as they wanted so the share value wasnt actually diluted that much.
So at that point (early May), anything below 16.2c was a good buy in my opinion.

Then the entire board of directors bought around $20k worth of shares each. Another positive sign from the leadership team.

Since the radio stations directly rely on advertising sales from australian businesses, the moment that australian business kicks back into normal gear, the SXL stock price should respond accordingly (as we are seeing at the moment with most aussie stocks).

On top of that, instead of paying off a debt slowly, the equity raising just knocked off a sizeable chunk of that debt so the company is further de-risked in a better position than before the crash in my opinion.

Bought at 16.7, Holding. Next 12 months for the entire australian stock market should be pretty decent - I think the crash was a little oversold on sentiment, and Australi has done extremely well to weather the storm and come out on stop.