Sure, I get it. But if they had raised say 1M$ in their previous offering in May (assuming they knew the arbitration date at the time), they could have avoided offering shares before the arbitration at such low prices. What they did was not a good practice either. With a good arbitration result the PPS can potentially double or even more. This means that they could have raised the same 5M$ by offering half the number of shares as they did now. They could have avoided diluting some 5M extra shares.
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