Why did shareholders sell at a discount? Why would they want to sell for less? Is that the only way they could sell? I understand shareholders sold shares. But I don't understand why they sold at such a discount. Can someone explain?
This is a thinly traded stock. The average volume of the last 3 months is about 100K shares/day. Now, those 3 funds are offering 20M shares to the public. It will take a while to digest these huge size of shares. Remember 20M shares are taking 100K shares/day * 200 days = 20M shares to be sold if we found the buyers everyday.