Opinion on T trades from another board.
These large late "T" trades are the signatures of PIPEs, Reg D 504s, “consultants”, or other large holders selling fresh stock into the market
Typically the MM chosen by the seller will sell a certain amount of shares per day based on volume and agreement. At the end of the day the accounting is squared up and will show as AH T-trades that appear typically between 16:05 and 16:25. They will always be large blocks but typically never larger than 9,999,999. These shares were actually bought by the MM's at the price you see AH. The shares could have been sold at any price.
There are some variations to this but that is the general way it flows. You will also see these large AH blocks on stocks that are using other forms of dilution.
These are shares that typically are fresh from the TA (added to the O/S).
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This is the opinion of the poster. I am just presenting it because we have seen these same trades.