Originally Posted by
trader_jackson
hmm so did anyone else see the announcement today that of the $5m SPP barely 50% of it was taken up? I am not personally surprised as the share price has continued to decrease...
Although I don't know alot about WYN, I think this, and a decreasing stock price over recent times, is very disappointing outcome. It seems relatively isolated to WYN as well, as other speculative companies seem to be ok. Having said this, I do believe they have a 'nice' product with potential. Then again, maybe they don't need $2.5m extra cash?
(and yes snapiti this is a much worse result than PEB, despite a potentially more favorable structured capital raising [SPP rather than rights issue] - I am still waiting for the explanation on how great the capital raising has been and how fast all the shares had been snapped up etc... further still, those that paid $1.79 and diluted the shares for everyone else must not be to happy so far knowing in less than a month they have lost almost 13%... I hope for them this trend does not continue!)
Lets hope it is a take over target, maybe they will make a great offer to share holders of $1.75-$1.80? a nice premium at current prices...