Looking forward to some thoughts from @BobbyKennedy and others...

Looking forward to some thoughts from @BobbyKennedy and others when they have had time to fully digest the announcement.

From my brief review, this brings in a corner stone investor who will hold (from the convertible note) circa 20% control. The 5 cent offer is very low, all things considered. However, it requires a 90% acceptance rate. It will be very difficult for Aurenne to get 90% acceptance rate, unless they do an obscene amount of on market buying.

This convertible note also removes the 'overhang' or worry related to the vendor payment. There will be less loose shares with a key investor like this.

Cynical view, yes the share price was probably held back so that the offer of convertible notes is on favourable terms.

Essentially, we have a corner stone investor, less risk and a price floor of 5 cents.

I think everyone needs to calm down for the time being, not be hasty and slowly take in the information and what the rest of the market thinks of this (I do not mean what people on HotCopper think; wait for some independent third party reports and or articles)