re: Ann: Elemental Successfully Completes A$3...
What are you guys on about? Generally when companies raise money through sophisticated investors…..they have to sell them shares at a discount…..here we sold them at a PREMIUM…
A sophisticated investor is one who buys $500k+ of shares. The advantage going through them to raise money vs us or other avenues is that it’s a lot cheaper as you don’t’ have to issue a prospectus etc and there is a lot less costly regulation / fees….As these investors are “sophisticated” / have access to financial advisors etc…..they are deemed to be able to make a decision like this with the need to have a full prospectus which explains out all the risk’s to them….
Surely it’s a great thing that ELM could so quickly raise money at a premium to the market? Also now if Dingyi want us to pay them out on their convertible loan later this month…..we have the cash ready for it!
K2P Price at posting:
27.5¢ Sentiment: LT Buy Disclosure: Held
