They were using the share placement to delta hedge the note.
In laymans terms (For your benefit) they needed to buy shares at as close to the SP as possible to hedge out. So they are covered long or short on any SP move on the note.
The strike price (price of raise) is at $194.
Its complicated but lucky you have me to educate you.
APT Price at posting:
$119.52 Sentiment: Buy Disclosure: Held
