After a pretty dramatic rise for no particular reason, after languishing around the 0.09c - 0.,11c range for quote a while, Orbital surged to reach a high touching 0.35c .... to be followed by ....
A CAP RAISE - gosh - who'da thunk it?
Not a whole lot of $ involved - raised $3 mil at 0.21c per share, from insto's and sophs - number of shares issued being under 10% of prior total. Face value market cap now a bit over $40 million.
So, a case of grab the money while the market is enthused and the going's good, and never mind that there's 17 million options at strike 0.35 due early Feb 2026? $6 mill if they're redeemed.
If
Or is Orbital expecting to be in the money - ie heads to be above $0.35c - for OECO options, in 5 months, as well?
And what's behind this rise anyway? Share price since the issue has been hovering around 0.25 - 0.26
Orbital has spent decades really, looking for a market for their small engines. In the last couple of years UAV 'drones' have become every governments concern. And if Australia and regional neighbours want to be able to build lots of disposable drones without dependency on Asian supply chains?
Don't ask me how a small cap Australian engine development company can scale up manufacture, or who they see themselves partnering with. But if there's a plan afoot, Orbital might be in for interesting times.
If
Might
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