Ann: Extension of Rights Issue Closing Date-EXG.AX, page-14

In fact the reverse is true...rather than smacking of desperation on the part of management, this is a mechanism being pursued by investors that previously were keeping their powder dry who now want stock. It is demand-driven, and should be seen as a manifestation of FOMO.
Actually is prudent of the company to consider accommodating this demand, as will ensure the targeted dollars will be raised, as opposed to part-thereof, which in turn puts the company in a stronger position.