Ann: Equity Raising Presentation, page-6

It's a at huge discount but because of the 2.67:1 split, everyone keeps their same share in the company. The only one's who are disadvantaged are essentially holders that do not participate as they get heavily diluted. The biggest advantage goes to whoever picks up the shortfall at 20c for holders who do not participate.
It's a strange raise, but participating to ones full allocation, it works out ok.