They wouldn't have allowed the SP to drop like that (certainly if they were diluting...too obvious) without having some urgent need to get rid of a large amount of shares for an investment or other opportunity....at least that is the only thing that makes sense.
The company would certainly not want to spook investors by dumping their shares and casuing the tunble in pps unless they knew something worthy of rejuvenating their SP was right around the corner and more attainable with the action of selling off those shares.
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