Ann: Lake Way Fully Funded After Debt Facility and Equity Raising, page-6

First of all, it is good to see that the final funding is in place. But why the equity raise if not for additional costs? I mean I don’t care whether they will need to pay a percent more interest on the debt.

But thank the shareholders for their support and simultaneously diluting them by over 50% at a share price that is 18% below the current?

I'm interested in how Tony explains this.