I know the company technically hasn’t been revalued post-raise ergo the share price has not changed. But the pre and post money valuations are different by the amount raised & the share price should be pre money.
The business has another £105m in the bank and therefore it’s worth is £105m greater than it was before. That is inherently exactly how it works.
Of course it’s mathematically possible. The money is on the companies balance sheet and when being valued the difference between £1m in the bank and £101m is £100m. The money doesn’t disappear after a raise (and isn’t magically created - it just went from someones pocket into the company).