Remember, they just made a major investor conference presentation and likely another 10-12 meetings on Wall Street just a little while ago. They clearly drummed up demand and sweetened the buy through this ploy. The funds now get a firm price with no wild swings due to buying pressure. Existing funds may have shorted on their buying and were also allowed to cover at a set price without driving the price up. This was the trade off for clearing out institutional shorts and more fund buy ins. It appears it worked.
$10.40 is the price the Company guided retail investors would have to pay if they contacted any of the three underwriters to buy shares the Company sold in the offer.
I would imagine that any retail investor considering buying shares would have bought them shortly after the Phase III results were released - and that the $10.40 is basically a deceit on the part of the Company and the underwriters to deflect attention from the price at which the Company sold the shares.
It seems a safe assumption that the institutional buyers who doubtless pre-ordered the shares will not be paying $10.40.