[VIDEO] WMC entitlement offer closes soon, page-87

Have they not already been included in the initial $60+ million raised?

Page 5 of the Operational and Corporate Update on 8 June 2022 seems to suggest that Byrnecut had agreed to convert approx 13.4M of recievables into the offer.

My understanding is that anything from $50M to $84.5M represents the shortfall offer and Byrnecut may be the group that had tipped the total funds raised in to the low $60's raised which was announced later?

if not already included and things are looking a little shaky then I would imagine a main contractor will accept the shares at 40cents in order to give the company a better use of current funds raised rather then risking getting nothing back at all for themselves if they were to fall? Preserving $13M of the funds raised in cash gives that little bit more working capital/ liquidity which could be the difference in surviving vs failing.