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They raise $7.2 mlns in Net with the creation of 31 million new shares price at $0.25. On the 01.31.12: Cash position was $ 456 000. So there was a mater of urgency, knowing that operational expenditure will double in 2012 compared to 2011 (and then: three studies of Ph 2)
The current cash position is increased to approximately $7.5 MLNS. Autonomy thus amounted to more than 18 months since last 10-Q of 15.03 gave the information on cash burn ($4.8 mlns in all of 2012).
As a (french) shareholder of ONCS this is a good news, knowing that securing financing was not a foregone conclusion.
By cons, it represents a dilution of 25% over the current price. Then we'll see how the market will welcome this news: "assured funding" or "Dilution" ...
The sharp decline observed recently certainly indicates that the market had already incorporated the possibility of a capital increase but certainly not thereference price for the creation of the shares.
As anticipated , Rodman & Renshaw is leader of the operation ("
although We have Entered Into a placement agent agreementwith Rodman & Renshaw LLC ("Rodman") for the potential sale of commonstock and warrants
" in the announcement of 3.16) and can be that R & R has just been initiated by the rise from $ 0.18 ...
It is also possible that there were leaks and other dealers have pushed the shares toward $0.18 (as they have been approached to raise new funds...)