market anomaly, page-7

I've got a real stupid question so sorry if its laughable....in 10 years on the market...I've honestly never participated in a rights issue.

Does it matter what the share price is trading at for one to be able to still get the 9 news shares for every 2 shares held @ 4c?

ie: if AXM runs back up as seems to be already doing as I type....say it goes to 6-7, or 10 or whatever....and I buy 200,000 shares before the end of this month....do I then get a letter + forms from the company offering me 900,000 shares @ 4cents a share...I dont understand the option bit either.