Ann: Phase II/III ASD Trial Successfully Meets Primary Endpoint, page-50

My thoughts are it is always good to raise at a decent price,
As they did,
as it shows more confidence than having a massive discount,
As well as there is less dilution.

$10.0 million placement funds (before fees) was made to institutional,
professional and sophisticated Australian and overseas investors.

This is a good thing that were institutional, professional and sophisticated investors,
because those sort of people got rich by making money !!!!

They know what they are doing,
And getting in at the same price or less than them is generally a good thing.

Put it this way sophisticated investors got rich by making money,
Which they generally seem to get right or they would not be rich in the first place....