Because the price of the raise must be appropriately based on...

Because the price of the raise must be appropriately based on the 30 day VWAP. Sending out the 2K annoucement by itself could see share price goes crazy which would in turn affect the raise price. I suspect a lot of insto people participating in this raise are supporters and want a low entry price. Keep in mind PLY share price has basically doubled within a month and I personally think management didn't expect share price to rally that hard after the 4C. Perhaps, PLY has more positive deals to annouce to the market in the next couple of months and the instos want to be part of the rally.