To answer your question, if the SPP is unsuccessful ie not enough uptake, then the lead manager forks up the rest of the cash if it’s an underwritten raise or the company just closes the SPP with whatever cash they managed to raise and less shares issued overall if it isn’t an underwritten raise.
The whole idea of the SPP is to give the existing holders the same offer that was offered to the instos in the 7MM raise, clearly the holders are saying thanks but no thanks .
hopefully this answers your question
GLTAH
To answer your question, if the SPP is unsuccessful ie not...
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