Sure it is easy to say they could have raised funds for the debenture in one or two tranches. It was up to Poet as to how many times they would issue tranches and they managed the amount. I think there might have been some investors that wanted in but for whatever reasons, like currency controls, legal paperwork functions, etc. Poet accomodated people as soon as they could invest. I don't know any more than you do as to why there were large and small tranches as both our comments are speculation. The bright side is that they were able to raise money through the debenture. I think we can agree on that.

Monolithic