FWIW, I think that section is more about giving Sabby a preferred seat at the table for the next round. Might also be a game to "negotiate" (read extort) another delay fee.
Anybody who was happy when Sabby came along was either a naive innocent, or a short. These guys (not just Sabby, the crowd) are scum.
Anybody who ever is investing in smaller bios sees this time and time again. They will short ahead of the deal, drive the price down and thus get better terms.
And if the SEC catches them, they hit them with equivalent of a parking ticket.
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