The reason why it held is because MMs make predetermined conversions. This means, they phone each other up, or produce a contract that will establish a conversion rate for current market and then they cut a percentage to make a profit.
This is why dumpage most often happens in large blocks and seemingly just appears to get absorbed without affecting market too much.
There is an alternative whereby note holder no longer cares about profit and just wants to cash out - this happens when stock sinks to 0.0001 - as with all pos stocks - eventually
News 
Market Data 
Discover 
