"if it closes out some debt it's very good for business" – yes,...

"if it closes out some debt it's very good for business" – yes, well, it would be if it did, but it doesn't so it won't. The announcement specifies how the funds raised will be used and retiring debt isn't on the list. Other posters have mentioned early repayment penalties, which is probably true, so the business is probably stuck with the loans until they mature.

@Burgerbuns : "At least 5 capital raises in 6 years" – missed it by six weeks... the first one (or two if you count the placement and the SPP as different events) was 6-Feb-2018, which is just over 6 years. But pretty close.

@givemethecash : "There were 3 previous cap raises in the last 5 years" – also correct.

The differences are:

• Burgerbuns counted the most recent raise, givemethecash didn't.
• Burgerbuns counted over six years, givemethecash counted over five.

If you're going to argue, at least argue about the same thing. Otherwise my brain hurts.

But in any case, no matter how you cut or count, EOS has absorbed over a quarter of a billion dollars since November, 2019 (including the latest $35 million). Shareholders haven't had much of a return on that investment... just sayin'...