I think there are plenty of PIPE investors, latest and prior, and even some non-PIPE investors with large stakes who were willing to throw a few million to try and protect $100 million in value.
I suspect they may continue to support the price and perhaps even contribute to future PIPEs, at least for a while.
Problem is, if there's any hiccup, let alone really bad news, it could send the PPS down even faster than the SEC suit, and far further.