MPA continues to grow and now reports it’s first month of positive operating EBITDA.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02725980-2A1481134?access_token=83ff96335c2d45a094df02a206a39ff4

[Held IRL]

Details are now public. 13c per new share; $3M institutional placement, max $1M non underwritten SPP (up to $30k per holder subject to scaling back to hit $1M max). ~10% dilution if SPP is taken up in full.

I took a small starter position at 12.5c after the release of FY22 full year results and have been pretty impressed with how they're travelling. They're expecting to be EBITDA positive by the middle of this year and other fundamental metrics look pretty good to me.

Other action in this space also suggests industry expectations are positive more broadly e.g. Woolworths taking a significant stake in PETstock last year.

At this stage, I intend to participate in the raise and think the market price reaction post cap raise announcement is back to a pretty attractive entry point for the more risk tolerant among us.

Madpaws on Trading Halt for a potential Cap Raise. Not the worst of times for them to do this considering the stock is up 33% from its lows. Not the best of times either in the current climate, so I wonder what the deal will look like. Monitoring them in the next few quarters will become even more interesting as they appear to be on a pretty good run.

I commented on them in my last newsletter;

https://goforgrowthco.substack.com/