Shareholders are NOT 89-90 insty. Most such sites have not updated info on insty holding. BlackRock sold out - read power of attorney; one of them reported on behalf of the entire group, and that's why they checked >5% change in ownership. When a stock plummets from 12 to 1 dollar, you can be pretty sure there is a heavy insty dumping.
I would not be surprised if current insty ownership is less than 30%. Also I would not be surprised if TG currently has almost none.