What is wrong is their financing strategy.
No sensible CFO/CEO publish a document that heralds fund raising without having it already lined up, moving into a halt and executing while in halt.
The market sells in anticipation of CRs to finance their interest in a cheaper raising.
What they have done is a rookie move.
I bet they thought they would announce, price goes up and then they raise.
OOPS
Ann: Resignation of Director, page-23
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