The worst that should happen is $51,36M leaves the stock as...

The worst that should happen is $51,36M leaves the stock as people rinse their holdings
IE sell what they acquire
The fact $50M has left the stock straight off the bat this morning is interesting,
It means that there are shareholders leaving the stock who do not believe FFX will generate $50M of value from this raise.
I would have expected some money to leave the stock today, and some to leave upon the issue of shares as people manage their holdings.

The Math;

MC is $661.5 at the time of annoucement
Share price 70.5c
MC assuming all shares or equivalent are disposed of (pre share issue)- $610.14M
Share price at this Market cap is 65c
MC assuming all share or equivalent are disposed of (post share issue) - $661.5M
Share price at this market cap with dilutes shares added is also 65c

If the SP drops below 65c, then there is definitely a sentiment change from some shareholders
If you believe the money raised will be put to good use, and your sentiment has not changes, i think the stock presents a buying opportunity at 65c & below.
I would expect the SP to hold up reasonably well here, at least prior to the issue of shares.

Not financial advice,
MOO, DYOR & MYOD
Happy Trading
- Leezy