I'm curious if this transaction had more to do with them getting their shares count down below the 10% threshold?
I don't really see how selling nearly a quarter of your Treasury shares at this price is a good move? If they only did it to raise some cash, IMO they're really hurting to raise money.
The optics on this are not good, but perhaps as Implanting mentioned there is a valid reason to sell right now. We'll have to make sure to toss in a question or two about it during the next webinar. Thanks for posting it.