I feel like some of the discussions and confusion in here is a...

I feel like some of the discussions and confusion in here is a good example of why SPP's are not the norm.
Getting capital from the insto' / soph's is much quicker and easier, and it seems even when you try and do the right thing for retail holders, you still can't please everyone.
I think the reason 'normal' CR's are so feared by retail is the often the excessively generous terms to the participants. I think we also get too hang up on being bitter about not being included in the raise, and the subsequent drop in SP due to participants selling, that people don't recognizee the opportunity to take advantage of the drop in price and scoop up those shares being sold. After reading through and thinking about some of this, to me it's like a delayed transfer.. instos are used to get funds quickly, then they transfer some of them to retail via on market selling, near the discounted raise price. The problem is when the conditions are too generous, like gifting free heavily 'in the money options' which one company recently did. This causes a chain reaction of poor sentiment, pissed off retail selling, and shorts coming in to take advantage of the poor sentiment and crush the sp further, which can leas to share prices diving 30-50% over the following few months.

Race have given us a good opportunity here lets not make this into an example of why it's not worth the companies effort.