Your money has to be in their bank by 5pm tomorrow, don’t leave it too long!
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An observation.
SP $1.55. prior to placement.
Along comes an underwriter who charges $3M to give away $32M candy at $1.20
If the price was $1.55, they may have earnt it.
The shareprice drops to @$1.35 now, meaning @ $28.3M of equity wiped out, and dilution.
So now the existing s/holders are stumping up $5M, to pay $5.1M of costs to underwriter & admin.
If the big new boys stag their shares at less than 12% gain, the little boys shout OUCH even louder!
The price of progress eh?
I hope the board & management of PiX1e treat this new capital with respect, and are less concessionary in their business dealings.
You may well be right about possible dilution in the short term, however in the longer term PLX holders will be expecting new customer and/or partnership announcements which have the potential to make short term concerns a mere memory.
(The CEO has stated that PLX expects at least 2 major client acquisitions per year...... let's see if they can deliver this and hope/trust that your last sentence proves correct.)
Disc - hold and biased so DYOR.
Just finished off my application online, let's see how much gets allocated.
Well it's past 5pm, so now all the little PLX elves get together to read the wish lists of all the boys and girls who have hung up their stockings and are hoping to make a quick buck. What will they do if there are not enough shares for all the wish lists? Replace them with oranges? Coal? Or something less edible like vouchers for McDonalds? As the sun goes to bed and disappears for the night, the elves get out their cigarettes, brandy and calculators....
Good luck everyone! And Merry Christmas (yeah I know early but stuff 2020 so who cares)
And not long to wait, Offer shares are allotted on the NZX Main Board on Friday this week. Should find out pretty quickly how many SPP shares applicants got, with transaction statements issued on Monday.
New name on NZX with PX1 and debut on ASX today, be interesting to see what its in store...