I think I see where your coming from.
(i) the quotient obtained by dividing (A) $706,765.38 by (B) 55% of the average of the lowest 10 VWAPs of the Common Stock over the 80-consecutive trading day period immediately following the date of issuance of the Initial Settlement Shares
The 80-day trading period started immediately following the day the settlement shares were issued. That day was May 23rd. The calculation period started on May 24th and only counts trading days, so it ends around September 17th.
So the 80 days started on the 24th. The VWAP's are, by definition, calculated for each of those 80 trading days. It is impossible for the lowest 10 days of the 80 day period to be known immediately after May 23rd when the 8,500,000 settlement shares were paid to Hanover. It took at least 10 trading days before enough data data points were collected to calculate the initial 10-day VWAP average. That average is updated as required after each and every day of the 80 day calculation period.