I assume the working capital part of the raising will be partly...

I assume the working capital part of the raising will be partly for the integration costs, and as it's a highly complementary business these costs shouldn't be too large.

And I think today's drop is standard fare for most capital raises, the market decides to devalue the shares along the lines of the dilution caused by the raise.

And, as with all tech stories in Australia, the local big fund managers are among the last to catch on, and simply don't seem willing to buy too heavily into some of the emerging tech firms. There isn't the same culture of start up/ early stage and small cap investment in Australia compared to that of the US. I really believe that with the large superannuation pools of funds and other investment funds that exist in Oz that more investment should be happening in smaller saas/ai/iot firms; and that increased investment would help create our next generation of world beaters