Read the Early Warning Reports on SEDAR 761,000 shares received by John Bell-Allen were vested immediately following the closing of the merger.
The balance of shares he received are subject to lock-up periods.
I haven't read everything, but it's fair to assume other principals at Sea received similar treatment.
Going from memory only, if Sea was founded in 2012, then this is their first opportunity to monetize any of their stakes.
That may explain ar least some if this weakness, but those reports were filed April 5th, and as a result, this is old news.
Old or not, there's definitely been an increase in the supply of shares, obviously.
A increase in the supply of readily available shares to sell is only going to depress the price.
I don't know why it's still hammering the stock 10 days after the filing, if that's in fact what's causing this.
If it is a contributing factor, the question is " How low will they go?"