Today Invocare released 4.643m shares at $14 in an institutional placement, raising $65m. They have said that an SPP for retail shareholders will follow, priced at the lesser of $14 or the 5 day average price before the SPP closes. The SPP cap will be $20m, so altogether $85m. Market cap is 1.513B, so the raising is a noticeable dilution
The price has done very well in recent weeks and today closed at $13.88
The company plans to use the money raised to bolster the balance sheet. They have been renovating many of their funeral homes, and say that the improved sites are seeing better than expected results and they wish to accelerate the renovation program. They also have a strategy to acquire regional funeral homes with good market share in their footprint.
There is already some growth baked into the price as it is (P/E is 37, but E is down due to the ongoing investment program. Their strategy makes sense to me, and execution seems ok.  I am hoping others might have an informed view. Will need to decide on the SPP soon.