Scibase has now disclosed the final outcome of its rights issue, in addition to announcing the outcome of the repurchase of outstanding warrants of series TO2. The rights issue was subscribed to 96.4%, signalling robust investor confidence, while the TO2 repurchase saw approximately 83.9% acceptance. The dual move removes two major wet blankets: the near-term financing uncertainty and the looming TO2 dilution risk. Markets often struggle to hold multiple factors in mind at once, and with the financing overhang and the TO2 dilution shadow now largely removed, the investment narrative can finally sharpen around the core growth story. We believe this cleaner setup gives the share price room to re-rate as operational momentum increasingly takes centre stage.
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