And why wouldn't the market react well? A lot of uncertainty...

And why wouldn't the market react well? A lot of uncertainty taken out of this. To quote a prominent AFL coach "It is never as good as it seems and it is never as bad".
There was an over reaction to the down side on sales not hitting targets and a non belief in the qualitative sales announcements that the co released saying that customer approvals were good and that Sales were coming.
With a capacity of 2.4 million pallets per annum by the end of the year, my back of the envelope numbers have an EBITDA of A$11.25M. With a P/E of 15 and 200 million shares on issue (dependent on take up of SPP), the share price should be 0.85c with NO allowance for future growth. Factor future growth in as more production lines come on and the EBITDA doubles the year after with more growth to come.

Great buying opportunity at near bottom levels now.

And, for what it is worth, I would expect that the bulk of the unconditional raising was filled by instos due to the small time frame to raise significant cash and that SI's will fill the bulk of the conditional raising next month. We look forward to welcoming you on board Davisite