"The objective as noted was to extend the runway a bit while some commercial opportunities materialize and hopefully see a return to a more respectable share price."
Could it also be to give management some time to finalize the sell of a stake in Super Photonics?
The extended runway (1M$ burn rate per month = +/- 6 months) seems a bit short to go back to the market again even at a higher share price. But I like the idea behind it.
Good luck to all!