We had a lot of good news in the middle of the year, which will lead to good revenues this year. We may even see some of that in the end of year financials.
That news brought out the last of the convertible notes. They probably thought that it was going to be their last opportunity to cash them in cheap.
Many of the longs were able to average down and take in a lot more shares, so there will be a lot less shares for sale when revs pick up and news comes out.