De facto cap raise, do you mean the 65M share issue? That was announced a while back to happen some time before Jan 2022 I think it was.
If the note holders don't want to hold on to all their shares then yes it could cause a bit of pressure on the SP. It would make sense to take some off the table.
They did receive US$155M or thereabouts in cash at the time, so not sure how desperate they will be to sell considering the hot lithium market at the moment.
Time will tell I guess, should be an interesting week ahead.
Tuesday 17/08/2021 - New shares being issued, page-46
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