Ann: Carnaby Successfully Completes A$20M Placement, page-389

People were upset because the CR was too cheap and lead to unnecessary dilution. CNB had enough cash to keep going for at least another 6 months. If they had waited for further results they could have raise at $1.80 and either raised more or issued less shares.
The reason the SP has drifted back to $1.30 is two fold IMO. Firstly the Sophs selling out to turn a quick profit. The second reason is in times of market corrections, retailers in particular see this price as the new base as it’s where the instos and the company itself last effectively valued itself. They will sell down to this level because that’s where they think the price is going to drift to It anyway. Ultimately this herd mentality becomes a self fulfilling prophecy.
For what it’s worth Unless the Russia vs. Ukraine situation turns into a fully fledged ground war I reckon we will find good support at this level for at least the next few weeks. None of this matters to long term holders who believe in CNBs long term future. I personally will be looking to top up as more funds become available. Not financial advice, DYOR and GLTAH