two sides of the buyback

I can see two sides of the current buyback.

First, the company is propping up its share price by the almost daily buyback. This looks shifty.

On the other hand, many shares and convertible notes were were issued at much higher prices [for example, $1.25]. So the company really is benefiting holders by eliminating cheap shares from the capital pool. For instance, shares issued at $1.25, and bought back at $0.62 mean the company gets $0.63 of free money.

Pretty good deal for the corparators who hold. :)

Any comments?