This was likely an arbitrage opportunity as pointed out. This can be done successfully at any price point where the difference between heads and options is greater than the strike price with simultaneous exchange of heads for options. Just a bit of delay on the profits needing to wait for Automic to convert, but has the benefit of funding the company.
Ann: Application for quotation of securities - IMU, page-15
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4.5¢ |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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