Ann: FBR successfully completes institutional placement, page-46

The current theory I'm working on.

If I were an instos, and I ahve all these money laying around, and I see FBR, and I know a CR coming. 6 weeks till announcement/3 teams of lawyers. Your boss tells you they willing to fork out say 2mil for the upcoming CR, get as much "shares" as you can with the upcoming CR.
And if I was being "creative". I'll hire a bunch of HWLIEAgains to downramp the SP. Couple with a bunch of "short" selling. What is 30-60K? for 2 mil of shares? Don't forget the average vol pre CR is probably around 3-4 mil a day. A quick sell of say 500K shares at a time can really lower the SP. Plus, you'll be getting a lot more shares with a lower SP to begin with. Its not technically "short" selling like we know it. But its probably a game these play all the time.