RE: Placing being forward sold16 Nov 2023 09:23
Mad,
There is always an element of nervousness when a share price goes into reverse. If investors think about it, they have not been forward-thinking enough. It was always clear to peeps paying attention that SBTX would need a mix of equity, CLN and debt against accretive assets acquired; SA made this clear, not once, but twice. We also knew the Company needed cash as an insurance policy against further Croda delays, so its prudent.
As for Cenkos's conspiracies, assuming there will be an equity raise, the broker is doing what needs to be done. The SP raced ahead after the interview, which I requested, not SA because I felt investors needed some TLC. SA agreed to this out of respect. However, the SP perhaps responded more than anyone anticipated, which creates a discount that may be uncomfortable, hence why the price has dropped. Given the timing of the interview and the price at the time, I am making a guess, a finger-in-the-air job, that we are over the worst. If I am right, Cenkos have done their job protecting SBTX from discount placing for friends and relations, the likely next conspiracy.