Ann: Change in substantial holding, page-44

I think they have to err on the side of caution to ensure the proposed number of securities will be available cover the transaction - hence the $5 estimated value

if they proposed less shares and a higher quoted value - and for whatever reason the market drops they could fall short & have to cover in cash which they are obviously trying to avoid.

I don’t think it needs to be overthought - the purchase price has been set & they are transacting via the placement - it’s just safe guarding to ensure the transaction goes through per the purchase conditions as planned

all IMO