It is a price reset. Here is how it was explained elsewhere, and this is undoubtedly why they did this:
"A company sets a stock offering at a certain price based on what the underwriters feel will clear the market. For these types of companies, it's usually much lower than the current pps. In effect, it drives the stock price down to the offer price or close to it, basically sacrificing the early shareholders for a one time capital event."
Basically Maxim/Roth wouldn't pay higher than $.17 because they felt they would almost be paying a premium and wouldn't make any money on the deal. ASTM did the exact same thing. They were almost at $.90 a share a few days ago and set their offering price at $.30.