As it is an SPP, it is irrelevant at what price it is done at, in fact I would have preferred it being done at a price of 5c in a one for one offer with one option with an excercise of 10c.
The price and risk of diversification is only relevant for shareholders not willing to take up their rights.
That's what an SPP does and why capital is often better raised through institutions and sophisticated investors, however then any discount does risk diversifying existing shareholders but the impact on the SP is more shorterm and less destructive.
The only people who we should feel sorry for is those who have large positions and can't afford to inject more capital into the business.
TON Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
