An SPP is not technically diluting shareholders as only shareholders can participate in the SPP. It is though diluting large shareholders (eg. Platinum) compared to smaller shareholders (they both can only buy $30k max which is a rounding error for Platinum and could be significant for a smaller shareholder).
So Platinum may have put a limitation on the SPP as a condition on their investment in the placement. Only guessing though.
An SPP is not technically diluting shareholders as only...
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