My take.1. Any large investor will look for a discount on a...

My take.
1. Any large investor will look for a discount on a placing. And they wanted to atract some decent investors to the stock.2. The cash flow was managing the debt and even paying it down but the market was spooked by the size (which was covered easily)They needed to reduce the size to put the market at ease.
From their last presentation they admitted themselves that the debt could of been a problem when attracting decent investors. I think they have tried to address two issues here when bring on Wyllie. Bringing some decent holders onto the books and reducing debt. Good start.