Q: The press release does not say what Kraken intends to do with what looks like a significant addition to their funds. Do you know and what might be the expected share price response?
5i Research Answer:
After a dip related to the financing, PNG shares are back to new highs today. No new details were provided in this week's closing press release, but on the initial press release the company noted that proceeds would 'support the company transition to a scalable global prime contractor, including enhancing the ability to consider large US acquisitions, and to demonstrate a stronger balance sheet to customers'. Momentum and growth continue to look good, and the stock has behaved very well post-deal. We remain confident here.