"I think saying you can invest $30000 and then scaling back to say $10 000 is insulting"
I am pretty sure a of placements take the $30000, hold your money for a number of weeks, then allocate less than 10% of your order of shares.
I am expecting very little from my $30000, maybe $5000 worth if I am lucky.
DRO have stated they may increase the SPP to15 million dollars maximum raise.
Divide that by 80c = 18,750,000 shares
Let us say, 1000 people apply for the maximum $30000 worth which is 30 million shares. Just shy of twice the maximum amount.
I am sure we have many multiples more than 1000 shareholders who have applied for the most they can get, plus the 1000's of small parcels on top of that.
(this rough but, just pointing out its normal don't expect much from it)
I don't have examples handy but sure many on here do.
Would be very interesting what anyone here's lowest allocation has been.
You should have been in the last SPP for 3 million dollars at 30c.
10 times over-subscribed and they said, bugger it you can have everything you applied for.
SP got smashed, look where we are now.
I did not go in the placement but bought around 32c/33c and was happy with that (also some in 20's after)
From that placement.
The SPP generated significant support from DroneShield’s existing shareholders and substantially
exceeded the $3 million the Company targeted via the SPP.
DroneShield received SPP applications of $29.4 million at an issue price of $0.30 per Share.
Given the strong support shown by shareholders, the Board exercised its discretion under terms
of the SPP and has determined not to scale back applications, in recognition of the long-term
support of its investors and to maximise growth opportunities.
The funds will be used to accelerate DroneShield’s growth through a faster scale-up of inventory
for near-term sales, growth of key parts of the team, and general working capital.
DroneShield’s total funds raised under the Placement and SPP are $40.3 million (before costs).
Following completion, the Company has a robust balance sheet to accelerate growth with cash of
approximately $50 million and no debt.
At least at 15 million (19 million shares) I doubt it will effect the SP.
For me, tomorrow will be very interesting when the Sophisticated investor shares can be traded.
Will we hit 80c?
Will we go below 80c?
Will we open higher?
Will it be supported and reach 90c?
.
Expand
(20min delay)