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It is suspicious that the SP is being pushed down so much after Patto managed to get out of the underwriting agreement by reason of the SPP price being lower than the market price for consecutive days.

The SP action prior to 23 April looks very uncharacteristic after holding the SP steady at 1.7/1.8 for almost 2 weeks. Then all of a sudden sellers of 1.5/1.6 just appeared in the last days of SPP closing, triggering the termination clause for the underwriting agreement.

Now the SP is again being pushed way below. I am wondering now if a situation is being orchestrated to fulfil the get out clause for Patto with Tranche 2 placement as well.