entitlement offer 5 for every 13 at $2.50, page-6

This is how I see it, to simplify things let's say you own 13 shares.

If you take the rights issue up you'll have 13 shares at $4.14 and 5 new shares at $2.50, the average for your 18 shares is $3.68.

Another way to phrase it is that if they trade at $3.68 after the issue then the loss on your 13 shares will equal the gain on the 5 new ones.

If you don't take the rights issue up then you'll only have a loss on the 13 shares.

Where they really trade is up to the market and how it views the raising, the results today and how the broader market trades while they're halted.