This has to be looked at in perspective, the SP was hovering aroung $2.60 from around 19th to 30th July.
We don't know when the deal was sign or agreed on, so we should not all jump on the "should have been a higher price" bandwagon.
There is a timeline involved here for processes to take place, if shorters hit the SP and the current price was lower than $2.60 we would view it as a masterstroke by management to get a high price.
If others started buying the company and the SP rose then management gave it away too cheap.
This should not be lets toss the coin and see how we view the sale.
Phillips 66 Announces Strategic Investment in NOVONIX, page-33
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