2 Apr 2019capital raising announcement▼ Bad
Post-pivot Adamant raised a token $49,975, selling 2.5 million shares at $0.02 each to a single non-U.S. investor -- a sign of how thin its financing options had become.
What it means for a shareholder
2.5m new shares at US$0.020 to raise about US$49,975. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held US$1,000 of shares (50,000 at the issue price), your slice goes from 0.313% to 0.271% of the company. To keep it you'd need 7,823 more shares - about US$156 at the issue price.
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