I can tell you: the same reason SMS "participated" in earlier raises.
Once capital is raised they turn around and invoice their 'investment' back via fees. And then some. You put up money that you get back via the backdoor, and entice retail shareholders to co-invest so you can bill some more.
It is called a shell game.
Ann: Altech - $14.5 million Underwritten Entitlement Offer, page-3
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