To @Scolley's reply I would also add that the timing might also...

To @Scolley's reply I would also add that the timing might also have a little bit to do with the CHIPS and Science act. This from Wikipedia:



I think it will greatly improve BLG's chances if they can show that they have a solid business plan. A successful CR will help in this by demonstrating that the company has strong shareholder support, and a reasonably good cash runway. From that base they can then make the case for how extra funding could accelerate their R&D and path to commercialisation.

NB: The above post is opinion only and should not be construed as financial advice.