The 2.8M is translated as 2M for the new issue + 770K that happens with each Yorktown distribution.
I didn't say that all 2.8M shares or all 770K shares will go on the block. I specifically said the opposite. But a portion will go on the block and this is still a thinly traded stock.
Looking at the past history, every Yorktown distribution was followed by 10-20% drops in price. Will it happen again or will it be different? I don't know, but I cannot see why it would be all that different. The stock always had good prospects anyway. There are many reasons people are selling, some having nothing to do with investment.
Will it drop to $66-74 when the Yorktown distribution happens? If they go to $90 pre-distribution, that would be unlikely, but if they are stuck at $80 and the 2M shares were sold at $75, that won't be much of a stretch. The price of the new issue will give us a first clue. It shouldn't be long, I expect that to be announced in the next 10 days.
BTW, I am against issuing new XTXI shares. I can't find a good enough reason to dilute right now.
I am short-term holding and medium-term buying. All I'm saying is that there will be turbulence in price short-term; too many events going on at once.