Considering that PRR is now trading at 22c the financing of this company is unreasonably expensive.
Under the terms of the funding facility the company is issuing shares to Springtree at a 73.6% discount to the current SP.
Assuming a 140% premium to the 20 day VWAP before the deal was signed (VWAP = 5.72c) the company is issuing Springtree shares at 8c.
How do shareholders feel about paying 22c when at the same time when Springtree are receiving shares at 8c?
Rgds
Prof
springtree facility needs to be replaced now
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Last
34.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $493.8M | |||
| Open | High | Low | Value | Volume |
| 34.5¢ | 35.0¢ | 33.5¢ | $724.1K | 2.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 60483 | 34.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.5¢ | 55452 | 4 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| IMM (ASX) Chart |