VWAP - Tip comp !, page-156

So if VWAP ends up being about 4.7-4.8c and they raise at 3.8c but close today is 4.2-4.3c that means Patto's sophs taking up the "top-up" would really only be getting a 10% discount to last close. That's actually a pretty short discount even for a regular CR. I wouldn't be taking that up as a soph as risk you end up a trapped holder given the number of shares to be issued is probably 10 days volume at least. Interested to see how Patto's play this.