there are a few ways Capital Raising can go:1. CSL decide they...

there are a few ways Capital Raising can go:

1. CSL decide they need money to make COVID vaccine for the world. They offer share holders some discounted shares.
Shareholders get more shares CSL makes a ton of money off vaccine and share price goes up.
CSL is a reliable stock and the money will go to make the company bigger.
Shareholders would not sell any of their shares for 12+ months, watch the SP rise and collect their profits without paying capital gains.

2. Joe's carpet company announces they can make a magic flying carpet. Share price goes up, once the price is up, company does a CR at the inflated price (but at a 20% discount). Some people realize that as exciting as magic carpets are, there's no room for seat belts and they'll never pass regulations. Those people immediately sell their shares. Some other people remain hopeful that there will be some room for seatbelts, they sell all their shares, but sign up to get some of those shares at a discount through the CR (these people collect 20% profit up front).
Finally, some people love magic carpets and believe with their hearts that this is the next big thing. They keep their shares and get some more in the CR.
When the company's magic carpets are delayed, everyone sells their shares near the CR price. When the carpets fail completely, SP plummets.

NVX is somewhere in the middle.