“The subscription price for the new Magnis shares and the...

“The subscription price for the new Magnis shares and the subject of the potential future issue will be based on a 7.5% discount to a future observable volume weighted average price (VWAP) for Magnis’ shares on the Australian Securities Exchange (ASX).”

Doesn’t that price adjust to a 7.5% discount to the average trading price on the ASX? Usually, a large stock issuance is at a discount to the market, not a premium.