If raising $5M at 4.7 is what everyone has been dreading...

If raising $5M at 4.7 is what everyone has been dreading (literally just 2.9% dilution) then you shouldn't belong in the business of spending money to discover value. Perhaps you'd be better suited to an acc at westpac. Rationally the SP shouldn't fall as the raise isnt that large and the issue of shares and obtaining of funds is a wash. Technically the SP should rise if investors anticipate value creation with given funds (would be different with crappy management). Not gonna lie I think numerous 'investors' are low key ret*rded hence will sell at 5 or so to raise at 4.7 whilst thinking they are George Soros reincarnated, and then watch DRE rise to 6 a month later..