Ann: Appointment of Robert Turner as Non-Executive Director-IWG.AX, page-6

Everyone is still watching, just out of a bit of energy.
so they raise money at 4.5c...circa $40M MC, which is probably where the initial raise should have been done.

However, if you look at them now, they have cash, Turner on board and a "plan" to sell effectively, it should be going up from here. Most people have higher cost bases so they either need to average down or hold for it to turn. Can it still get back to a 200-300M MC, absolutely. However they need to hit sales fast and relive run the next 6-12 months. they have talked about it for long enough now.