Short answer: read the contracts, everything is being done legally.
Slightly longer answer: Let's say you own 1% of a $80MM company that raises $20MM. Your shares were worth $800k before and they still are (0.8%100MM = 1.0%80). The hope/expectation is that money will allow the company to grow its valuation -- if they do, you shares become worth more.
(What you could complain about is the CEO valuing the company too cheaply but there's a huge amount of luck and guesswork and you are missing so much information).
Slightly longer answer: Let's say you own 1% of a $80MM company that raises $20MM. Your shares were worth $800k before and they still are (0.8%100MM = 1.0%80). The hope/expectation is that money will allow the company to grow its valuation -- if they do, you shares become worth more.
(What you could complain about is the CEO valuing the company too cheaply but there's a huge amount of luck and guesswork and you are missing so much information).