Yes I agree it would be way easier to buy off-market for that sized an order since even though volume has somewhat picked up, it is nowhere liquid enough to trade 4mil shares without waiting around for a bit.
Assuming that the shortfall hasn't been filled already, my guess would be that whoever is behind this bid is someone who would benefit a lot from the $1.5m worth of 3c entitlement shortfall being filled. Perhaps someone who already has a substantial interest in reedy...
Either that or there's gonna be a Ann tommorow telling everyone the shortfall has been filled and the 4m share bid is someone who missed out
