They’ve always done the CR for an acquisition as soon as they...

They’ve always done the CR for an acquisition as soon as they made the acquisition.

i.e. PD1-Vaxx (IMUOB)
CF33 (IMUOC)
OnCARlytics (IMUOD)
Azer-Cel (IMUOE)

I think the SPP for PD1-Vaxx was reasonably well supported however, I recall the SPP for CF33 was pretty dismal and fully under written by Bell Potter and the SP was flat for months afterwards presumably from Bell Potter dumping the underwritten shares on the market. I’m pretty sure that resulted in no SPP along side the CR for onCARlytics. I was actually really surprised they had a SPP this time around given all the doom and gloom about the economy, interest rate rises and the poor showing for the last SPP… I can’t help but think PH was trying to do retail holders a favour* by way of the terms of the SPP, however given the mood in the room here, it seems it hasn’t garnered much, if any, good will from retail shareholders. At least it’s not underwritten this time l, so we won’t have a massive amount of shares that need to be offloaded causing a cap on the SP.

* and when I say a favour for retail, it will only be a favour if outstanding news is released in November about how Vaxinia is progressing resulting in a significant upwards rerate. While I don’t know what news will be released, I presume PH and the rest of the board would have a fair idea of what the presentation will contain.