However, what would have happened when the share price went...

However, what would have happened when the share price went below the offer price for retail holders? Happened last time and retail offer wasnt taken up.

RNU was able to quickly raise 70m for instos. That cash is now available and RNU can move more quickly to creating shareholder value. Cap raise outcomes can be quite unpredictable. For RNU unfortunately the last two have resulted in SP drifting below the cap raise.. for some companies that doesnt happen. The most important thing to consider is whether the fundamentals have changed - negatively - as result of this raise?