Looking at the annoucement. The placement and SPP price wont be known for weeks. In fact until 5 days prior to the SPP shortfall.
This underwriting recognises how bad the situation is and further highlighted by the fact that the $10m is also done at completion and therefore no parties were will to step up right now.
it it normal that the placement is done first and then the underwritten SPP goes forward.
Not a good sign of the markets appetite for LYC. Hold onto your hats the Hedge funds will milk this opportunity for all it is worth.
spp desparation
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Last
$6.41 |
Change
0.040(0.63%) |
Mkt cap ! $5.991B | |||
| Open | High | Low | Value | Volume |
| $6.45 | $6.49 | $6.40 | $13.34M | 2.079M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13384 | $6.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.42 | 13471 | 2 |
View Market Depth
| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |