They will most likely take the route of 15% placement without shareholder approval IMO.
That way they can get the funds without being knocked back by a vote.
Given that 15% of issued shares would be 183,988,257 shares @ 3.9c (0.4573 ten day ave from famoso @ 15% discount) would get them $7,175,542 maybe thats the deal. IMO
Should be enough to offset the risk for "sophisticated buyers" given that we were trading at those levels not so long ago.
Guess we will know soon enough.
QFY Price at posting:
5.3¢ Sentiment: None Disclosure: Held
