RE:Deployment of ROCI can only assume it is in large part existing investors using the funds to purchase additional shares of HWO.
Otherwise, the RoC hasn't changed the structure of the company - that will happen at the end of July, and it seems strange to me that the RoC would be the impetus for new investors to buy - it suggests some sort of arbitrage that I am surprised would occur.
Anyway, I have relatively limited perspective as an amateur retail investor, so perhaps other explanations are out there.