Margin calls
I think that with the markets tanking the way they have for the past few weeks, many investors are getting calls from their brokers for margin calls so they have no choice but to settle ASAP. Some investors will sell any stock that they're making money on to raise cash, to add insult to injury because PLI was trading below $2.00 than that also means it is not marginable anymore either, so that contributed to the SP dropping and taking all the stop-losses out all the way down to $1.70.
I think we will continue to bounce back by the end of the day. If there was a problem with Prometic, I don't think the over allotment would have been exercised.
JMHO
Jack