Innovation Pharmaceuticals Inc (IPIX)

[CHUNKY44]

I think the "why" is self evident. Demand and share price were rising, and the MFO was able to convert at a very favorable vwap from a couple weeks ago. I think the timeline between purchase of preferreds to conversion and sale of common in the market is hours, not days. (And I wouldn't be surprised if they happen practically simultaneously.)

I couldn't and still can't connect the dots that explain why the MFO would have accelerated its purchase of Preferred (providing funding) and how that could be connected to the common share volume in the market using the known data.