That's because you are basing everything on flawed assumptions.
It wasn't that they could only raise 2.6m of cash. In fact, they didn't actually need the cash right now. I understand it was as a result of reverse enquiry.
Therefore your assumption that they will do another raising in the short term is also flawed.
Lastly, it is nonsense that share prices rise straight away a raising. There is always a trend back towards the issue price first. The market has also been smashed this week.
NWZ Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
