Jmma, had some time on my hands so thought I would do a chart of Delcath during the subscription period to show what you mentioned for the benefit of the other members on the board.
What is interesting to note is the volumes during the Subscription Period. To me it appears that once they had secured enough subscriptions, they started dumping into the market.
As you so aptly noted, at that point you would have been locked in and could not sell until well after the subscription period ended.
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