SPP, page-6

No. That wouldn't make sense in most circumstances, selling and buying again at the same price just results in 2 brokerage fees and no change in holdings. What happens is dilution. There are say $10m of shares out there, then after a raise there are $15m. But the company doesn't have any more earnings. The value of the company has gone up (because it holds the proceeds in cash). But the earnings (or likely future earnings if the company has no revenue yet) are now divided between more shares. Ideally the extra cash means the company can grow, expand and make lots of money in the future and the share price stays higher. But it doesn't necessarily happen.