I think the timing is unfortunate. For example, if it came after...

I think the timing is unfortunate. For example, if it came after an ann or a quarterly that showed definitely that WW was pulling in money, I'd be more positive. If it had come after a quarter of having income, I'd have been relaxed. At the moment I think WW is looking good inferring from what the previous few anns are saying.

You could argue that it's a "reward" for holders by giving the opportunity to participate when the price is at its lowest, and there should be good short term drivers to push up the price. But, just to be totally pedantic, you don't "avoid" dilution when you stump up money in a placement, and it's an accepted generalisation that the price Ends to anchor around the raise price for a while.