IMO, The capital raise was executed with no existing shareholder...

IMO, The capital raise was executed with no existing shareholder in mind.

Existing shareholders took the share price to 3.9 without the help of new investors.

Existing shareholders researched and spread the news and kept buying (at the higher prices) because they believe in the companies technology and in what the company is aiming for.

Unith management have opportunistically called a few friends when the SP was up to say that the existing shareholders have brought the SP right up, we've got some good news to break out and we can offer you a deal way better than they're getting, buy the same shares way cheaper and we'll also give you option for every cheap share you buy, for free. As a bonus, you don't have to pay the excise price until mid 2024 and by that time the SP will be way over that because the existing shareholders will keep supporting the company.

Unith Management should have announced the company update first, the SP would have punched up further under the excitement and then they should have asked their friends if they'd like to buy in, without the massive issue of shares and extra options diluting the existing shareholders.

Sure, I agree, they needed more cash, the new investor interest may help, but management orchestrated the capital raise without any thought given to existing shareholders or the dilution.

Kick them in the shins I say!