I wish they had done it at a higher price, if there was that much interest

But that's just not that realistic Banshee if you think about.  We've been told before that raising capital is about timing and current market conditions being favourable.  It's also about when they need the cash.  Raising capital doesn't happen overnight.  I've seen several capital raises cancelled with "current market conditions" sited as the reason.

The board cannot sit there and say "we need to raise cash, however we should wait for a the SP to rise".  It just doesn't work like that and given how hard it's been to drive SP appreciation, they'd be foolish to gamble like that.  They don't have that luxury.

I'm just grateful we're not sitting in the 50c range anymore.  In fact it's not impossible to imgine, that they have been waiting for the SP to get out of that range before pulling the trigger.