It did clearly say in the SPP document that it could result in a...

It did clearly say in the SPP document that it could result in a pro rata scale back if oversubscribed. The last capital raise was significantly oversubscribed, it seemed obvious that this one would be to, given it was even further discounted. The last raise was also different in that it was a straight scale back, irrespective of your previous shareholding. That meant investors with say, $1000 in shares prior to the raise received several times there previous stake in the company at a discounted rate, however those with larger holdings received far less in proportion, this was not fair. Your allocation to new shares should be reflective of your previous commitment to the company, not a juicy option for someone with 100 shares to take up 30K in new shares for risk free profits.

Annoyingly, the previous raise terms also meant that you needed to put in the full 30K to get the maximum amount, as it was scaled back as a straight percentage. This time was much better, someone will a smaller shareholding, knowing if scaled back it is pro rata, could have put in a much smaller amount than 30k, but still have reasonable confidence that they will receive the maximum they could be entitled to. In other words, if you understood the conditions you may have realised that putting the full 30K would have been unnecessary, and you'd have suffered less opportunity cost. You could have easily looked at RHC as a example as how this capital raise would work in a recent real World example.