Ann: Partial Conversion of Convertible Bonds, page-35

That's much better
Traditionally they sell all the converted stock and as Goofy mentioned earlier the Becoming and Ceasing to be a Substantial holder will provide valuable insight into the price the 3rd party paid and who they are.
As each tranche of stock is converted or warrants exercised the proportional increase of stock reduces. So this conversion had a smaller dilution than the previous one (per dollar of debt struck off).
For this reason, the ongoing strength of RE prices, the fact the conversions are largely factored in and the strength of Lynas management and the lid on costs I can't see Lynas falling back to 12.5, 16 or even 17c. Unless of course something major happens outside the control of Lynas (looking at you POTUS and Kimmy).
Expect a bounce by the end of this week and hopefully a climb above 22-23 by QR in October.