when will the underwriting drop to 2.0c?, page-4

You may want to look at the sell depth if you are wondering why they would not buy on market, or why they would pay a 25% premium

When you look at the $ amounts involved it would not be worth the effort for them to buy on market, nor would anyone trying to increase a decent holding buy on market due to the light volumes

Unless of course you deal in sub 10k position

If the CR is not fully subsribed it will allow them to take a position in the company very very cheaply and they can then do as they wish with their shares

Smart play I would suggest, and I for one would not be surprised to see this stay below CR price.