I would not think that this would need to be a wipe out capital...

I would not think that this would need to be a wipe out capital raise.
1, Looks like only existing shareholders and Directors to participate.
2, C2V will be providing substantial funding commitments under a Funding Facility

Am assuming that they possibly went to Brokers for a opinion and they like vultures would have wanted minimum 30-50 % discount. Can see most raises at the moment are at 30% . but with a company low on cash would have been brutal.
Credit here that they did not rush this and saw the value of the business.
What price i wonder, not sure. How many shareholders will participate?I feel that the majority of holders are long term and see the vision. With a 6-10 month runway would not want to be part of the ride.
Some good news/partnership around the raise would really help.