Hedge Funds that bought at $1.50:
Park West Asset Management LLC ($760M portfolio) bought 7,912,547 shares
Harvest Capital Strategies LLC ($1.3B portfolio) bought 3,666,667 shares
Renaissance Technologies Corp ($38.1B portfolio) bought 1,148,700 shares
Alyeska Investment Group, L.P. ($1.5B portfolio) bought 1,334,268 shares
All the above held as of 6/30/13 when the stock was $1.40, and the price has only fallen since then. So, they didn't flip their shares between $1.80 and $2.10 like some would like us to believe. Given that VELT constitutes only a tiny fraction of their total portfolios, I don't believe they did or will do any window dressing on this position. Together with the 22.5M shares already confirmed between mutual funds and insiders, that will be 36.5M locked from retail or 50% of the float. So the current short position of 15.6M shares is closer to 42% of the free float (available to retail), and that is not including any naked shorts.