It's as expected to be honest, it's been <48hrs since they've received news of EXIM funding, it's going to take a lot longer to finalize a proper equity financing round. If you check the previous quarterly it was obvious that they would need extra funds soon.
$3m at 4.4c is nothing, the next raise will be significantly more money at a significantly higher price per share.
Ann: Preliminary Approval for up to US$657m in Funding from EXIM, page-62
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