Ann: Pilbara Minerals Equity Capital Raising, page-36

Hi Matoslav, Well they are giving retail a good chance to participate if you feel the price is low

"
Eligible Holders will be invited to invest up to a maximum of A$30,000 per shareholder "

"
New shares issued under the SPP will be offered at the lower of:

•  the Placement Price (being A$0.30 per share); and
  
  
•  a 1.0% discount to the VWAP7 of Pilbara shares traded during the five ASX trading days immediately prior to and including the SPP closing date. "
  
  
  Interesting they have a $30,000 cap per holder, SPP are usually capped at $15,000.
  
  And even if avg price drops below the 30c you still get a discount, based on VWAP.