They just raised 9.5M, that's not just wages.What I mean is: If...

They just raised 9.5M, that's not just wages.

What I mean is: If you were the 'significant investors' buying into the company near long term lows, you'd want to support the share price to demonstrate confidence and thereby increase your own chances of a return? Discounts are for when cap raises follow a sharp uptick in share price, i.e. the valuation has arguably gotten ahead of value.

Conversely, raising at a discount to a low triggers the very response you've written.