I suspect this announcement scared a few -- who perhaps had not previously fully digested the number of options on issue & the level of dilution as consideration for the acquisition.
Fact is none of us are really quite sure what an appropriate market cap of this company should be. Where that is the case for a company, the capital raising price provides an overly-weighted grounding to guessed at valuation.
I'm pleased the company closed this deal quickly. We need to obtain & put the necessary money into product focussed research quickly -- then we will really know how much this new IP is worth. Tick tick tick - on the competition & patent clock.
ECQ Price at posting:
2.3¢ Sentiment: None Disclosure: Held
