RE: QuestionsTechaser... this crap happens all the time.
An aggressive portfolio manager will sell INTO a financing like this knowing they have the bullets to knock the market down on the stock and then replace the stock at lower prices by subscribing to the financing.
I believe guys even play games between different funds within an umbrella of funds...ie: sell stock in one fund, crystallize tax losses, knock the price down, buy back into a different fund and reset cost at the NEW LOWER starting price.
Guys will often do this when they have counterbalancing gains to "average out" a quarterly performance number and to set themselves up for subsequent better performance and benefit from the tax treatment.
At this point, the absolute best thing that could happen would be to negotiate a JV or pure debt deal with a long term investor, cancel this secondary offering completely and catch all these guys with their pants down.... then watch the fireworks as they all rush to cover their shorts....