He did stump up $80k for shares in the money that were due for repayment (2m @ $0.04).
He did not stump up $508k for shares out of the money that were due for repayment (6m @ $0.085).
Optically it doesn't look good but commercially it makes perfect sense.
I'm sure most holders will approach the rights offer very similarly.
If SP at or above 9.3 they will participate. If below 9.3 they won't.
He did stump up $80k for shares in the money that were due for...
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