4DX - not to forget that:
The SPP will be offered at the lower of:
• A$0.91 per share; and
• a 2.5% discount to the VWAP of shares traded on the ASX during the five trading days up to the closing date of the SPP, rounded to the nearest half cent.
That period starts tomorrow Wed 17th May.
So yeah, throw in half an option and this will be very well bid & the cheaper the better.
They've already banked the $20m from instos at the higher price. The $15m from shareholders might be a couple of months of runway but they might in fact not need it.
This could be, in fact, the last raise.