agree it's not highway robbery. the way it works is that...

agree it's not highway robbery.

the way it works is that investors look at the Vwap and require a discount. given the shares have gone up a lot and in a short time frame the discount maths doesn't look good. this is where hindsight may say the company went too early on the CR. I'm not criticising, time will tell.

the job of the firm managing the raise is to raise it at a level that will be successful but attempts not to hose existing holders. clearly it's a fine balance. they do this by doing other raises / looking at their discounts / speaking to existing and potential investors on an ongoing basis around what it requires to play (to be clear - not suggesting information sharing inappropriately pre raise). it's a combo of art and science.

like I've said on other threads, let's all look at the document/ the terms and then everyone decides. it's premature to moan / comment given no one knows what the offer will be and what updates the company will have.