Rumour has it that this was certainly not a pump up. More likely...

Rumour has it that this was certainly not a pump up. More likely some of the larger instos would have encouraged this cap raising so that VLT would never need to do any cap raising again.

From the report - "Vault received strong support for the capital raising and the Company is especially pleased to advise the ongoing commitment and investment by Institutional investors who comprised the majority of the placement"

From the 4C:
"FY18 total CARR achieves $4m Market forecast
Total CARR for FY18 reached $4.05m which delivers on the market forecast set 12 months earlier"
+
"The company ended the quarter with AUD equivalent funds of $3.0m in cash and receivables and is well positioned financially to continue the growth and development of the business."
+
"The burn rate is expected to drop over upcoming quarters and Vault is committed to, and is on track to driving the business to a cash positive position during FY19"

My take is some institutions wanted a bigger piece of this pie before VLT really moves. This is the beginning of Vault really moving upwards as a business.