Prior to today's offering, there were 49 million shares outstanding, with institutions owning 30 million shares or 61%. Over the prior 6 months these institutions who already owned shares increased their positions by 8 million shares. So a very large percentage of shares outstanding are in very, very strong hands.
These institutions know where this company is and where it is going. It is a very solid story. So, how can they substantially increase their positions without sending the stock through the roof since so many of the shares were in strong hands. So, you get today's offering. This is how the game is played.