"Why dont the management raise the capital needed from the...

"Why dont the management raise the capital needed from the existing loyal shareholders who have stuck by them all along."

To raise equity from retail holder you need an underwriter and with the business in dire circumstances no one willing to do it
And if they do they want 40-50% discount or more

Basically FGE current got caught between a Rock and a hard place
No one willing to give it any money and if they do they want it at fire sale price .

Bankers step in to help it for a short period of time and hope it turns and find a trade buyer or some white knight but if none of that eventuate you what is coming ...