This is the type of capital raise I agree with,
1) it is not simply raising funds for running expenses (please sir I want more) but for a real reason, and a reason I agree 100% with
2) us shareholders are included (even if to a very low level)
3) the offer is at a significant discount
4) the entire process is not going to be drawn out with shares allocated at the end of this month.
But I expect it will be scaled back considerably and wouldn't be surprised if it closed early. I've already sent in my money.