That was a declaration of conversion. Now he is converting directly into the float.
You apparently don’t understand what a 13G is for ( it’s only a statement of ownership required for owning more than 4.99% of O/S). It would have been many more if not for the blocker.
IMO the company F’d up with that blocker because he would have gotten a lot less shares back in Nov. 2022 at the $4 price level it was then.
Now 3i is dumping millions. Another reason it’s obvious this company gives 2 shits about shareholders.
The blocker was to prevent a price drop while they shot their load of Nasdaq hopes. Failures then and now.