If a stock is held almost completely by retail..well its unbalanced and that is what is being rectified by the $100m capital raise
Institutions and sophisticated investors on the share register is good for the share price, the more the better, as they usually have longer time horizons.
Plus there involvement adds credibility and assurances that retail cant.
They also can act as a consortium to block opportunistic T/O attempts
And the CR is settled expediently. A big cash war chest signals capability to potential clients
Theres 'an urgency' for many countries to up their drone defence capabilities which is ever evolving The US just signed off on U$61B for Ukraine armaments The Middle East is a tinder box and all countries in that region will most likely look to beef up their counter drone capabilities
Now imagine trying to get a A$100m SPP off the ground with the nickel and dime retailers presently on the share registry
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