It’s too early to tell, but it’s all positive. Ionic need revenue streams, more cash/working capital and more shareholders to IPO - I forget the exact numbers but they were mentioned at the AGM. This latest raise is up in price both on the divested value (from SER) and significantly up from the rights issue and general offer. It would follow that the IPO valuation would be another jump if they achieve the listing requirements.
This raise is probably required to accelerate commercialisation and be able to establish the CLQ JV if the next milestone is passed.
Ionic new presentation, page-8
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