A company's share price tends to fall after announcing a cap raise, but only when the cap raise is at a discount. A truer statement would be that a company's share price tends to move towards the price at which capital was raised. In this case, that is up.
Which doesn't bode well for your strategy.
Having said that, I thought that MZZ price would fall back after initial enthusiasm for the announcement, but it has actually performed rather strongly.
Ann: Placement raises $8.7 million, page-47
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