It's a different story to other conversion / options where the...

It's a different story to other conversion / options where the conversion price / strike price is fixed, and the only reason then you would convert is to sell.

In this case, the conversion is based off the vwap. And if you think the price is going up, you would convert early to get in as low a price as possible. Also note that it is a partial conversion and not a full conversion. I would be more concerned if it was a full conversion which signifies wanting to get out.