I dont think they were placement shares being sold today.
To my knowledge [as a pipe holder myself and as a friend of a dozen other pipe share holders], instructions have not yet been distributed to anybody to advise how to get them off restriction.
the TA may lag in recording and issueing restricted certs to new PIPE subscribers but that is typical of new stock issue in small companies. My company did not get our shares printed for a year because nobody cared enough to push it... then they stayed in the lawyer's files till we sold the company...
On the other hand, not a share is sold other than hedging restricted shares until the TA swaps out the cert...
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