Price before dilution was 4.1c.
6-5 issue at 1.5c.
Therefore, theoretical value after issue is ~ 2.9c.
The upside is that the company should be in a better position with the debt retired so the share price should be re-rated higher than 2.9c - eventually and all other factors being equal of course.
tanami to raise $63.7m at 1.5cents, page-20
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