Time and time again a Capital Raise occurs at a discount to the...

Time and time again a Capital Raise occurs at a discount to the current market price and the price falls to back to around the level of the raise, even though the number of shares is small relative to the total number issued. Then the price rises. I don't understand why the fall occurs. When there is the chance to dump at the higher level to buy at the lower level...maybe, but there are sometimes conditions on the raise (x shares for y held, potential scale back, etc). In this case, there was no opportunity for retail investors. This move appears positive for the Balance Sheet in the context of the coming listing. Sit tight and watch this project develop.