'pick up some more shares at a cheap price…'5 Mar 2022 10:54
oldbaldy (and others),
Hoping to pick up cheap shares whilst acknowledging that a placing to fund a lab (if not more if no deal materialises in the short term) makes little sense. Shareholders should be insisting that they are involved in any placing. That way any more funds invested go directly to the company instead of buying 2nd hand shares on the retail market.
Even a Primary Bid open offer would be preferable to some sort of discounted bucket-shop type placing or, even worse, a convertible loan deal (aka death spiral financing).
As the days tick down, the 'long stop date' looms ever closer and people are going to get twitchy. Some who are heavily exposed will not be prepared to idly watch daily drops destroying the value of their holdings.