RE: RNS - Oops23 Oct 2020 15:41
I personally don't think a placement is on the cards. Extract below from the RNS yesterday
'The 4D Directors have explored a number of options to access the US capital markets, including a direct listing onto NASDAQ and a reverse merger. The 4D Directors concluded that the preferred avenue to accessing the US capital markets was a merger with a special purpose acquisition company, or SPAC.
A comprehensive analysis of available SPACs has been conducted by the 4D Directors, who sought to identify a SPAC with sufficient capital to extend meaningfully the Company's cash runway without excessively diluting the holdings of 4D's Shareholders. Longevity was identified as the preferred SPAC during this process.
A backstop financing facility has been put in place such that the US$14.6 million cash reserves held by Longevity as at the Last Practicable Date, will be guaranteed to be held by Longevity upon Completion. These funds (less existing indebtedness in Longevity repayable on Completion and the costs associated with the Transaction) will thus be available to the Enlarged Group as new capital following Completion, giving the Enlarged Group an operational runway into early Q3 2021.'