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However, with dwindling gates club chairman Peter Ruchniewicz told this weeks advertiser, "Things are as bad as they have always been. We are living hand to mouth, Our income has been falling all season. The stadium redevelopment hasn't helped and falling attendances have tightened the squeeze on us. It's very painful to have to put extra money in, but as directors we are doing it because we believe in this club and want to show that we are all Rotherham United supporters and we are in this together."
Details of the new rights issue were given on the clubs official website - themillers.co.uk yesterday.
Just over 620,000 shares have been released, with the current board putting in around £200,000 to bolster the clubs position.
Ruchniewicz told the official site, "The business does now require further capital to support its trading position until part of the new Main Stand can be progressively brought into operation during the coming months.
"The directors recognise and are extremely grateful for the support given to the last right's issue at the end of last season. However, to keep our plans on track at a time when the pain of reconstruction on and off the field is being felt and tough challenges lay ahead, we have made this positive move reflecting our determination and commitment to provide a sustainable future for the Millers.
"Everyone has been aware for some time that the new board had difficult decisions to make if the club was to have a long term future. The tough financial position we found ourselves in was not going to change dramatically overnight, but we are turning the club around and are on course to break even next season. We urge shareholders to follow our lead and take-up the offer"
Existing shareholders have been written to and have until 12noon on December 12th to buy further shares.