This is not positive news. It eould've been posiyive had they done this maybe 6-12 months ago shen there was still cash and time for a new CEO to set out a strategy. Now I'm not even sure they will get a new CEO in time to do the cap raising. Incoming CEO is going to effectively take a hospital pass not a smooth handover with the outgoing CEO, time and money to set and execute.
The CEO didn't just retire out of foresight knowing he lacked the skills and experience to take the company through this stage. He failed. This is bad and shy the sp has been hammered.
Ann: AirXpanders Announces Management Changes, page-61
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