My understanding is sophos only account for <20% of this cap...

My understanding is sophos only account for <20% of this cap raise. The remaining shares will be allocated to existing shareholders who subscribe for the right issue. Everyone got the same price (3c) and got 1 option for every 1 share / right issue bought. Pls look at how the options given at the last cap raise (which have the same strike price and expiry date) have been performed. Albeit there will be lots more options after this raise, I still think the strike price and expiry date are quite attractive. Say if we can sell the option for 0.5c, we literally bought the shares at 2.5c. If we can sell for 1c, then we bought the share at 2.0c. GLTA