Well first we have to assume they will need a capital raising. I...

Well first we have to assume they will need a capital raising. I think thar is very likely.

To raise capital their options include
a) Placement to institutions / sophisticated investors
b) Rights issue
c) SPP
d) Combination of the above

A combination of a placement followed by a SPP seems common among small caps as it reaised more money than a rights issue (eg you may only hold $5k but may subscribe for $15K in a SPP)

Generally for a SPP you need to own stock before they announce it to be elible. (Occasionally they will set a record date in the future but no guarantees on that). The stock you purchase usually has no fees. Usually there are set parcel sizes you can buy (eg $1k, $5K, %15K) and often some options will be thrown in as a sweetner.

Because of the need to raise capital I don't think the share price will rise up much. Rather they will use the good news to minimise the discount they need to give in the capital raising.