I don’t know if this sell off was done on the market. Am I reading this right that they’re securities that were not on the open market?
My understanding was they did the transaction after hours. Interesting story, to say the least.
According to the article it sounds like it was a private transaction. Not over the exchanges/open market. I presume the buyers and sellers were both sophisticated enough to understand the transaction and negotiated a price. If the seller dumped them all in the open market it would have negatively impacted the share price so I presume the buyer knew that and negotiated a price that incorporated that fact into the purchase price.