Maybe CG shorting to protect their downside? if they know they're on the hook, maybe they don't have to wait for the new shares to settle to hedge their exposure? Again, I have no idea whatsoever, just trying to imagine a scenario to explain this price action. An equity raise is usually a de-risking event, which usually sees the stock pop up right after the pricing. This is very unusual in my experience, which I will admit is rather limited.
Ann: Completion of Placement and Institutional Entitlement Offer, page-5
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