they've done it at least twice before too. Here is a straw I posted a year ago.

"Bigtincan announced a non-binding takeover offer today at 80c. Deja vu. In Dec 22 they had another non-binding offer which didn't proceed for the same price. A week later they had a capital raise. Call me suspicious......"

It amounts to market manipulation, if not outright fraud IMO.

Get your mates to lob a completely non-binding, indicative bid and then pull it the next day (wtf?) so you can pump your share price for a cap raise.

It speaks very ill of management.

Joining the Spurned Takeover Hall of Shame alongside the likes of $RHC, $TYR , $ERD and $APX.