With hindsight sure, you would have raised capital at a higher...

With hindsight sure, you would have raised capital at a higher price. I would guess though if you had asked management back when the price was $1.50 say, they would have expected the stock price to keep rising as the company continued market leadership and got closer to profitability timing wise.

I don't think think the market will give you any credit for asking for cash early and sitting on idle cash balances, especially if the stock price had kept rising...

Ultimately though, given all shareholders have the opportunity to participate in the capital raising I think it's OK as you can ensure you don't get diluted by participating fully and it's a long term investment anyway.