I expect Summit Partners to cover their short hedge over the coming weeks of this non dilutive secondary offering. I always have suspected that the three million short shares of UBNT belonged to Summit and they will exploit this self created news to balance that hedge.
The tiny current float of 2.61 million shares equates to only $52 million in trading volume. The secondary offering increases trading volume to over $200 million. Now we have a stock that is more attractive to institutional buyers. This is a win-win for new money and existing shareholders. Short term consolidation from increased liquidity followed by continued up trend.