Many just want to flip as soon as possible for a quick profit. If the pps got to $2.25 as an example, that might not be worthwhile to them, because there will be real price pressure after the offering is complete and they will just cancel their order rather than take the risk. At, say $3.00, they could feel pretty sure of getting $2.50 at least and will participate in the offering.
Earlier today, Merriman could be calling clients and saying it is $3.00. You can get it for $2.00 and you get warrants too. Not a bad sell, I would think.
IMO, this information out is not good for the offering, UWKI, or present stockholders. Not good at all.