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Placements at lower price than the current market price nearly always affect the price downwards.
Particularly when the cause for the placment is purely to raise working capital

It is backed by the mathematics of adding extra shares to the total issued capital with lower backing value (cash) than the prior value ascribed to each share by the market at the time. There is also no upside "potential" in cash - it has a precise value.

ALternatively when shares are placed to purchase an asset with higher value like a new business it can go the other way e.g. FUN recently.

the recipients of the placement effectively push the price down as they are stagging for immediate profit.

my views only.

acturtle