That's true for a short-term holder / day trader. But you can't...

That's true for a short-term holder / day trader. But you can't have it all: if LPD need to raise capital to support a longer-term strategic decision (which appears solid and dynamic), what would you rather them do? Capital raise from their shareholders at a more expensive price that won't get taken up, and thus necessitate raising from a bank or external?

In my opinion, the 'discount' they've offered puts shareholders first with a proposition they feel represents value in the longer term. The significance of the 'dilution' you fear will dissipate once / if the ducks line up as the move intends them too. A mere drop in the ocean if the potential for which most people have invested is realised.