Hey Amadeus of the Dollars,
Ionic is mostly owned by SER shareholders - SER holders were given an in-specie issue of Ionic shares on a one new Ionic share for every 1 SER share held on 22/06/2015 (and from memory, at the time 80% of Ionic shares were distributed this way and SER kept 20%).
...and there were plans to raise capital by issuing more shares too new investors _ I think we still await news on that.
but DYOR as some of this from memory - hope it helps.
Ionic Capital Raise, page-19
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