Ann: Trading Halt, page-53

So anyone have enough experience to know how these Sophisticated placements work - is it just the discount and opportunity to make some PIPs and relatively easy money that is the primary incentive here?

Obviously Directors cannot share confidential or material information on pending deals, however I would have thought that that may be one of the selling points to attract Sophs... or that Sophs would do their homework and determine a risk assessment.

Was this last sell off just simply a case of risk aversion then?