Ann: Becoming a substantial holder, page-14

Every time there's options attached to the entitlement offer the SP gets below the offer price because there's value to the options and people are still willing to sell a few percentages below the offer price to get cash to apply for the new shares and receive the options as well. The amount by which the SP goes below the offer price shows how much the market values the options. All this selling pressure will go away by the 29th when the offer closes. Remember the financing decisions won't affect the valuation, they only cause temporary impacts on the prices. If someone doesn't mean to trade this stock and is here as a long-term investor, they can simply ignore this swing in the price. Although it provided a good opportunity for people who missed the rally to get in at discounted prices.