Ann: A$80m Fully Underwritten Equity Raising to Accelerate Explor, page-128

Any sophs and instos who participated in the Placement and are looking to flip for pips can short the stock now and lock-in current prices and then close their position (i.e. repay the borrowed stock) with the new shares they will soon receive from the company (via the Placement) which cost them 58c. It's a well-trodden ST strategy, for those chasing low-risk pips, that operates independently from other forces that might push the SP in one direction or the other. Naturally, the company would prefer to place to only subscribers who are likely to all hold for the LT, but that's a somewhat utopian ideal.