On the whole 28c thing & "sophisticated investors & funds where...

On the whole 28c thing & "sophisticated investors & funds where fighting to get in here" while yes I'm sure there are some that are still holding but don't forget the antics of the market & tight knit associations between companies & these sources of capital. Intergrating the placements into common stock meaning they are basically raising the money to the market are not uncommon occurances & while there is still always benefits for those funds in providing the service it is just as much in favour of the company securing funding.

After stock was allocated the share price traded above the placement level for a period greater than 10 days & volume over the period also far exceeded 100M securities. While no doubt some has been held onto much of that could also be viewed as a very short term loan with the capital recouped very quickly. It more so means the funds really provided no real capital as it was raised directly through the market unwinding the allocated stock.

Of course there would still be some participants holding from the placement but i wouldn't assume they're all sitting there disgruntled with the fall - alot would of taken the 5% interest on the loan over a matter of weeks.

Just my 2 cents