$2.55 is a great entry point. Wait. Only shareholders of record are getting that price. Anything under $2.75 is a great deal if you can get it. Not sure if it will make it that low, but if it does, BUY with both fists.
If you own shares as of record date and have ability to buy 30% more shares and decide not to exercise that right to buy at $2.55, you are crazy.
If you do not have any more cash to buy those discounted shares or do not want to increase your position, I have a strong suggestion for you. Sell an equal amount of what you can buy now at the higher PPS and buy back those shares using the rights offering. It will lower your overall basis. Remember, you will have the wash rule meaning you will not be able to recognize the loss from the sale until you later sell those new shares. However, that is not so important as we are at the beginning of the tax year and you still have another ten plus months to decide what to do with those new shares.
For example, if you have 10000 shares and have the right to buy 3100 more shares, you can first sell 3100 shares right now at $2.88 and buy that 3100 shares back in another week at $2.55 under the rights offering. You just lowered your basis on those 3100 shares by .33 per share! That is almost $1000! Your welcome.