Not necessarily the case @Terrorbyte cash injection to the coffers is good, intent of the option holder who exercised is the mystery, if the majority of the mass who are converting are in for the brighter future of XPE (which I believe is the "smartest" strategy considering the news of the deal were all waiting on), then the SP is not going to be sold into from these new shares coming on. Whats hurting the SP at the moment is algo bots and broking houses manipulating the price for their own initiative. Sux when its not a level playing field but that is the game we play. All IMO.
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Ann: Appendix 3B - exercise of options-XPE.AX, page-4
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