I realise I'm only paraphrasing what others have sumized. What...

I realise I'm only paraphrasing what others have sumized. What has happened is the short term traders have responded to an announcement , and the stock has peaked at 6.5. Half of them got caught and are looking at up to 50 per cent losses, on a 2 day trade.
If company encouraged a lot to convert into shares , before the announcement , or even on the announcement (because it's taken on the WAP 2 days prior) they sold into the spike at a profit. If they are out , mission accomplished for the company. The company got there CN note money. Pity about the speculator day traders that paid up to 6 cents . So a very convenient announcement. If it falls through , tough eh , they did say it was subject to due diligence. The money tree just keeps on giving. DYOR