The way I see it they needed the extra funds for a few...

The way I see it they needed the extra funds for a few things.
Either the business is really struggling with cash burn and poor sales, no hope really and things are going to end badly.
Or more likely given we have seen some positive announcements recently and now the support of an institutional investor, there are some good prospects ahead and the business needs more cash to fulfill sales orders.
Share price will take a dive for a while but I am still holding out for when the good news starts to come though - will see sharp jumps then.